September 5, 2018 / 3:51 PM / 18 days ago

BRIEF-India's Bharti Infratel Says Receives Exit Notices

NEW DELHI, Sept 5 (Reuters) -

* Bharti Infratel Limited Says:

* Bharti Infratel and Indus Towers Limited, where it owns 42 percent equity, have received exit notices subsequent to the completion of Vodafone-Idea merger and their scheme becoming effective from Aug. 31, 2018.

* This would result in the exit of 27,447 co-locations for the company on a consolidated basis.

* These co-locations contribute to 13.7 percent of the total co-locations on a consolidated basis as on June 30, 2018.

* This is likely to result in a net reduction of consolidated service revenue of around 600-650 million rupees ($17.42 million) per month from Sept. 1, 2018.

* Expects to mitigate it by exit charges and incremental revenues on account of anticipated new network rollouts by the operators.

*

* ($1 = 71.7500 Indian rupees) (Reporting by Malini Menon)

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