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BUZZ-India's Bharti Infratel rises; report says co in talks with KKR-led group
October 11, 2017 / 4:21 AM / 2 months ago

BUZZ-India's Bharti Infratel rises; report says co in talks with KKR-led group

** Shares of Bharti Infratel Ltd rise as much as 2.9 pct to 411.50 rupees in early trade; stock top pct gainer on NSE index

** KKR-led consortium in talks to buy Bharti Infratel and Indus Towers in a bid worth $11 bln, the Economic Times reports, citing people aware of the matter (bit.ly/2gc6zBI)

** Consortium comprises of Canada Pension Plan Investment Board (CPPIB), Abu Dhabi Investment Authority and GIC Singapore, the paper says

** Bharti Infratel, which currently owns 42 pct in Indus Towers, will buy out all or almost all of the 58 pct stake that other partners Vodafone, Idea Cellular and Providence Equity Partners hold in Indus Towers, the paper says

** Bharti Infratel could not be immediately reached for comment

** Bharti Infratel stock gained about 16 pct this year through Tuesday’s close

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