Government approves merger of Bharti Infratel and Indus Towers

The telecom department has given the FDI approval for the merger of Indus Towers and Bharti Infratel, which was announced in April 2018. Currently, Bharti Infratel and Vodafone hold 42% stake each in Indus Tower while Vodafone Idea has an 11.15% stake. According to reports, Vodafone Idea was looking to raise about ₹4,500 crore from the sale of its stake.