Vodafone, Airtel, Idea form tower company

New Delhi, Dec 8: Three leading telecom service providers, Bharti Airtel, Vodafone Essar and Idea Cellular, today agreed to form an independent tower company, Indus Towers Ltd, providing passive infrastructure services in the country to all operators on a non-discriminatory basis.

The three companies will merge their existing passive infrastructure assets in 16 telecom circles in the country. Bharti and Vodafone Essar will own approximately 42 per cent each and Idea will own the remaining 16 per cent stake in Indus Towers, a statement said.

UNI