By Bhuma Shrivastava
The merger with Bharti Infratel Ltd. creates an entity controlling more than 163,000 towers across India.
The stake sale transaction is being structured in this way to maintain the total shareholding of the promoter entities in Idea Cellular at the current level.
The two operators have a combined 23% of Kenya’s 41m subscribers, but have struggled to compete with Safaricom, which has 71.9% share.
Internet users in Indonesia will rise to 70% of the population by 2019 from 55% in 2017.
Vodafone India and Idea Cellular had in November 2017 separately agreed to sell their respective stand-alone tower businesses in India.
Through this process, RCom hoped to cut its debt by Rs39,000 crore.
Singtel plans to expand the platform to include mobile wallets provided by associates such as those in the Philippines, India and Indonesia,
Solidium, Finland’s investment arm, built the stake in Nokia by buying shares on the market over the early months of 2018.
Rival Idea Cellular Ltd, too, has raised funds to build a war chest for the battle in the telecom sector.
Aircel and its subsidiaries Aircel Cellular Ltd and Dishnet Wireless Ltd together owe around Rs50,000 crore to creditors.