Negotiations are now in the final stages for the sale of a controlling stake in telecom tower giant which will be created by merging Bharti Infratel and Indus Towers, according to a report by CNBC-TV18.
Bharti Infratel is promoted by Bharti Airtel, while Indus Towers is a joint-venture between Vodafone, Bharti Airtel and Idea.
Private equity firm KKR, CPP Investment Board (CPPIB), Bharti Airtel, Bharti Infratel, Vodafone and Idea, among others are locked in negotiations which are now in the advance stages.
Sources told CNBC-TV18 that valuations and structure of the deal are the sticking points.
Bharti Infratel and Indus Tower combined will likely be bought by KKR and CPPIB. However, Idea and Vodafone do not want to cede their stake in the venture.
Bharti Airtel, Vodafone and Idea are likely to hold onto a minority stake, while KKR-CPPIB could be the majority controlling stakeholders of this venture.