Bharti Airtel and Vodafone Group, shareholders of the combined entity resulting from the merger of Indus Towers with Bharti Infratel, have announced that the merger process is at an advanced stage of completion. Airtel and Vodafone have proposed Bimal Dayal, who currently serves as CEO of Indus Towers, as CEO of the merged entity. In his new position, Dayal will be in charge of the combined business and integration of the two companies before the completion of the planned merger. Hemant Ruia, who currently serves as CFO of Indus Towers has been proposed for the role of CFO of the merged entity.
The existing leadership teams of both Indus Towers and Bharti Infratel will continue to manage their respective businesses until the merger becomes effective.
Airtel and Vodafone agreed to merge their tower subsidiaries Bharti Infratel and Indus Towers in April 2018. The merger would create the world's largest tower company outside China, with over 163,000 towers operating across all 22 telecom service areas in India. The new company, to be called Indus Towers, is valued at INR 715 billion (USD 10.8 billion).
