Vodafone to spin off Indian mobile masts
Sunday, 22 March 2009
MUMBAI, Mar 21 (Reuters): The Indian business of mobile phone group Vodafone plans to put its mobile phone towers and infrastructure along with the stake in a tower firm into a separate firm, the Economic Times said Saturday.
Citing two executives with knowledge of the situation, the new firm, to be named Ortus Infratel and Holdings, will hold Vodafone's 42 per cent stake in mobile phone mast firm Indus, a venture with Bharti Airtel and Idea Cellular, and about 6,000 towers not owned by Indus.
Officials at Vodafone Essar, the firm's Indian arm, were immediately available for comment.
The paper said a spokesman for Vodafone Essar had declined comment.
Citing two executives with knowledge of the situation, the new firm, to be named Ortus Infratel and Holdings, will hold Vodafone's 42 per cent stake in mobile phone mast firm Indus, a venture with Bharti Airtel and Idea Cellular, and about 6,000 towers not owned by Indus.
Officials at Vodafone Essar, the firm's Indian arm, were immediately available for comment.
The paper said a spokesman for Vodafone Essar had declined comment.