By IANS
New Delhi : Bharti Airtel, Indian’s largest mobile services operator, Friday said as many as seven global investors have expressed interest in buying about 9 percent stake in its tower business, Bharti Infratel, for $1 billion.
Some of the leading investors who have agreed to buy the stake include Temasek Holdings, The Investment Corporation of Dubai (ICD), Goldman Sachs, Macquarie, AIF Capital, Citigroup and India Equity Partners (IEP).
“The enterprise valuation has been agreed to be in the range of $10 billion to $12.5 billion, and the final valuation, within this range, will be determined on the basis of Bharti Infratel’s actual operating performance in financial year 2008-09,” it said in a statement.
Bharti Infratel owns almost 20,000 towers and holds approximately 42 percent in a joint-venture tower company with Vodafone and Idea Cellular, which has about 70,000 sites.