Current Affairs - Business - Discussion

Indus Towers and Bharti Infratel Ltd announced that, they have agreed to combine operations in a deal that will create the world's second-largest mobile masts company measured by numbers of towers. The combined company will lag only China Tower. It will still be listed on Indian bourses. It will have a presence throughout India with more than 163,000 towers. Bharti Airtel will have a stake of 33.8 % to 37.2 % in the combined entity. The combined entity will be called Indus Towers. The new Indus Towers board will have 11 members: three members from Bharti Airtel, three from Vodafone, one from KKR or Canada Pension Plan Investment Board and four independent members.