Bharti Airtel announced that its board approved plans to look at selling a stake in its infrastructure arm Infratel. A Committee of Directors will evaluate options for "monetization of a significant stake in Infratel", Airtel said. Infratel has been asked to share information with prospective buyers, subject to customary confidentiality arrangements.
Infratel was spun off by Airtel in 2007 and has its own stock market listing. Bharti Airtel still holds 71.7 percent of the shares. In addition to over 38,000 towers under its own operation, Infratel has a 42 percent stake in Indus Towers, another Indian tower operator set up as a joint venture with Vodafone India and Idea Cellular.
