Shares of Bharti Infratel jumped as a media report said that the company is in talks with KKR-led group. The stock jumped as much as 2.9 per cent to Rs 411.50 in early trade and was the top percentage gainer on the NSE index.
KKR-led consortium is in talks to buy Bharti Infratel and Indus Towers in a bid worth $11 billion, a media report said, citing people aware of the matter. The consortium comprises Canada Pension Plan Investment Board (CPPIB), Abu Dhabi Investment Authority and GIC Singapore, the report said.
Bharti Infratel, which currently owns 42 per cent in Indus Towers, will buy out all or almost all of the 58 per cent stake that other partners Vodafone, Idea Cellular and Providence Equity Partners hold in Indus Towers, it said.
Bharti Infratel could not be immediately reached for comment. Bharti Infratel stock gained about 16 per cent this year through Tuesday's close.