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Bharti Hexacom Puts ₹1,134 Crore Tower Sale on Hold
Mint New Delhi
|April 11, 2025
Bharti Airtel-owned Bharti Hexacom has put on hold its deal to sell 3,400 towers for ₹1,134 crore to Indus Towers, following an intervention by state-owned Telecommunications Consultants India Ltd (TCIL), which holds a 15% stake in the firm.
TCIL asked the company to start a fresh process that meets its requirements as a PSU, Bharti Hexacom said in an exchange filing Wednesday.
"The management and the Board of Bharti Hexacom remain convinced about the business logic and merit of the proposal. However, in keeping with the highest standards of corporate governance and transparency, it has been agreed to put the current proposal in abeyance and undertake a fresh exercise in consultation with TCIL," the company said in the filing.
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