New Delhi: Country’s tip user Bharti Airtel is looking to sell 5 per cent interest in a building section Infratel by an open marketplace trade understanding to lift about Rs 3,500 crore to Rs 4,000 crore.
Airtel has 71.70 per cent interest in Infratel.
The association skeleton to sell 5 per cent interest in Infratel, deduction of that are expected to be used to cut debt, sources said.
They, however, did not give any timeline for a interest sale.
When contacted, a association orator declined to comment.
The net debt of Airtel stood during Rs 78,816 crore during a finish of Dec 2015.
Ahead of a launch of Reliance Jio Infocomm, Airtel is aggressively expanding a 4G footprint. The association has already acquired 4G spectrum from Aircel and Videocon to turn a pan-India actor in a high-speed information services market.
Airtel has acquired rights to use 4G spectrum of Aircel in 8 telecom circles for Rs 3,500 crore, while a understanding for
spectrum in 6 circles with Videocon Telecommunication stood during Rs 4,428 crore.
Telecom operators are consolidating their positions by loading adult on spectrum forward of Reliance Industries’ most talked about fourth-generation wireless services to be launched this year.