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jh-siesta.com December 11, 2017


Vodafone draws a line under Indian experiment with $1.2bn towers sale

14 November 2017, 12:44 | Sammy Green

Idea Cellular’s revenue from operations fell about 20% to Rs7,466 crore

Idea Cellular’s revenue from operations fell about 20% to Rs7,466 crore

Further, SG&A associated with the assets is expected to be less than Rs 1 billion (approximately $10 million) for the first year. ATC is buying towers from Idea and Vodafone through Viom, now known as ATC Telecom Infrastructure Pvt. Ltd.

In the event that the completion of the sale of the standalone telecom tower businesses precedes the completion of the proposed Idea-Vodafone, Vodafone India will receive $592 million, while Idea will get $615 million.

A man speaks on his mobile phone as he sits in front of a shop displaying the Idea Cellular Ltd's logo on its shutter in Mumbai, India, April 28, 2014.

"After Vodafone India and Idea have completed their merger, ~6,300 colocated tenancies of the two operators on the combined standalone tower businesses will collapse into single tenancies over a period of two years without the payment of exit penalties", the companies said.

The sale of tower businesses by the mobile operators comes after cut-throat pricing unleashed by new entrant Reliance Jio Infocomm, backed by billionaire Mukesh Ambani's Reliance Industries, roiled the industry. Together, Idea Cellular and Vodafone India have a debt of Rs1.08 trillion.

Last year Vodafone made a painful $5bn to the firm's original $20bn investment in India.


Vodafone has agreed to sell its Indian mast and towers business in a deal worth $1.2bn (£900m), it was announced this morning.

The Board has approved the execution of a share purchase agreement amongst ATC Telecom Infrastructure, the Company and ICISL.

Indus-the biggest tower company-is a three-way joint venture among Idea, Vodafone and Bharti Airtel, which also controls Bharti Infratel.

The company shares ended the session down by 3.61 per cent at Rs 93.55 on the BSE.

Telecom tower operator Bharti Infratel Ltd said on Monday it has chose to.

Vodafone Group Plc's India unit and Aditya Birla Group company Idea Cellular.



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