Bharti Airtel to merge Indus Towers into Bharti Infratel and create the largest mobile tower entity
New Delhi, April 25: Bharti Airtel has approved to merge Indus Towers into Bharti Infratel to create the largest mobile tower entities worldwide with 1.63 lakh towers across 22 circles in India, a company statement said here on Wednesday.
The combined company will own 100 per cent of Indus Towers, it said.
Indus Towers was currently jointly owned by Bharti Infratel (42 per cent), Vodafone (42 per cent), Idea Group (11.15 per cent) and Providence (4.85 per cent).
The combined company, which will fully own the respective businesses of Bharti Infratel and Indus Towers, will change its name to Indus Towers Limited and will continue to be listed on the Indian Stock Exchanges.
"Taken together, Bharti Infratel and Indus Towers had over 163,000 towers and 367,000 tenancies as on March 31, 2018. With over Rs 253 billion ($3.8 billion) in revenues (for the financial year ended March 31, 2018).
"The combined company will be well placed to invest on a national basis to satisfy the future demand from all telecoms operators in India as they continue to densify their networks to support sustained data traffic growth and roll out new network technologies," the company statement said.
"Indus Towers currently operates in 15 telecom service areas (Circles) and Bharti Infratel's operations are focused on the remaining seven Circles.
"The combination of Bharti Infratel and Indus Towers, with their highly complementary footprints, will create a pan-India tower company with the ability to offer high quality passive infrastructure services to all operators on a non-discriminatory basis, needed to support the pan-India expansion of wireless broadband services using 4G/4G+/5G technologies," it added.
Bharti Airtel and Vodafone will have equal rights in the combined company. They have entered into a shareholders' agreement and it is expected that the combined company's articles of association will be amended at completion to reflect some of these rights.
"Following completion, the Board of the combined company will comprise of 11 directors, of whom three will be appointed by each of Bharti Airtel and Vodafone, one will be appointed by KKR/Canada Pension Plan Investment Board and four (including the Chairman) will be independent.
"The management team will be confirmed prior to closing," the statement clarified.
The transaction is subject to approvals from the relevant regulatory authorities, including from Competition Commission of India, Securities and Exchange Board of India, National Company Law Tribunal, Department of Telecommunications (FDI approval), approval from Bharti Infratel's shareholders, necessary corporate approvals from the companies involved, as well as closing conditions.
The transaction is expected to complete before the end of the financial year ending March 31, 2019, the statement added.
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IndiGo cancels over 200 flights from Delhi, Mumbai on Saturday
Mumbai (PTI): Domestic carrier IndiGo has cancelled over 200 flights from Delhi and Mumbai on Saturday, a day after managing to temporarily secure major relaxations in the second phase of the court-mandated new flight duty and rest period norms for cockpit crew, sources said.
Of these cancelled flights, 109 IndiGo flights were cancelled at Mumbai airport, 51 arrivals and 58 departures, and 106 flights at Delhi airport, which included 54 departures and 52 arrivals, they said.
On Friday, when IndiGo cancelled over 1,000 flights from across airports, IndiGo CEO Pieter Elbers, after maintaining a stoic silence over the grave crisis for three days, apologised in a video message for the major inconvenience caused to passengers due to the disruptions.
ALSO READ: Indigo fiasco: B'luru airport suffers disruptions; over 102 services cancelled, KIAL issues advisory
In the one-way video communication, Elbers also said that the airline was expecting fewer than 1,000 flights on Saturday.
It may be mentioned here that on Friday, DGCA provided temporary relief to IndiGo, which is partially owned by Rahul Bhatia, by way of rolling back the night duty definition to 12 am-5 am from 12 am-6 am earlier, and allowing its pilots to do six night-landings from two earlier, besides other relaxations.
Meanwhile, the pilots' body, Airlines' Pilots Association (ALPA) India, has taken a "strong" objection to the DGCA's "selective and unsafe" relief to IndiGo, saying that the relaxations have not just "destroyed regulatory parity but also placed millions of passengers at "heightened risk".
Following the meeting convened by the Ministry of Civil Aviation with ALPA India and other pilot associations on December 5, the Ministry announced that it has decided to place the implementation of the revised FDTL CAR in abeyance.
"ALPA India expresses its deep concern that this step directly contradicts the Court's directions, which mandate the enforcement of fatigue-mitigation standards rooted in aviation science," the Association said in a statement late Friday.
It stated that keeping the FDTL in abeyance not only undermines judicial authority but also heightens the risk to pilots and passengers by delaying essential fatigue protections.
"We urge the (Civil Aviation) Ministry and the regulator to uphold the Court's order in both letter and spirit and to prioritise the safety of the pilots and travelling public above all commercial considerations," ALPA India said.
ALSO READ: IndiGo cancels over 1,000 flights on Friday; expects situation to normalise by Dec 10-15: CEO
It is worth noting that IndiGo was the first carrier to oppose the new FDTL norms for pilots when they were introduced in January 2024, with a March implementation timeline.
It had been argued that the airlines require more time to put in place due to additional crew requirements. The latest FDTL norms, which entail increased weekly rest periods to 48 hours, extended night hours, and limiting the number of night landings to only two, as against six earlier, were initially also opposed by domestic airlines, including IndiGo and Tata Group-owned Air India.
But they were subsequently rolled out by the DGCA following the Delhi High Court's directives, albeit with a delay of over one year, in a phased manner, and with certain variations for airlines like IndiGo and Air India.
While the first phase of these FDTL norms came into force in July, the second phase, which reduced the number of night landings from six to two earlier, was implemented from November 1.
The norms were originally to be put in place in March 2024.
