New Delhi, Feb 6 (UNI) Bharti Airtel Limited subsidiary Bharti Infratel today said New York-based private equity firm Kohlberg Kravis Roberts&Co (KKR) will invest 250 million dollars in the firm.
''KKR will invest 250 million dollars in Bharti Infratel by KKR's Asia dedicated private equity fund and its global private equity fund,'' a company statement said.
This is in addition to the investment of one billion dollars in Bharti Infratel by leading international investors Temasek Holdings, Investment Corporation of Dubai (ICD), Goldman Sachs, Macquarie, AIF Capital, Citigroup&India Equity Partners (IEP) in December 2007, it added.
The enterprise valuation of Bharti Infratel will be in the range of 10-12.5 billion dollars, with the final valuation to be determined on the basis of Bharti Infratel's actual operating performance in FY 2008-09.
Bharti Infratel owns over 20,000 sites and holds about 42 per cent stake in Indus Towers, which is a joint venture between Bharti, Vodafone and Idea.
Bharti Infratel and Indus Towers will provide passive infrastructure services to all wireless telecom operators in the country, which will result in capex and opex savings and higher capital efficiency for all wireless operators, enabling quicker roll out of services, especially in rural areas.
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