London: British Mobile phone giant, Vodafone, has said that it was entering into a joint venture with Indian peers Bharti Infratel and Idea Cellular to form a company building telecommunication towers in India.
Vodafone Essar, the British group’s Indian arm, and Bharti would own about 42% of Indus Towers, with Idea taking 16%, the three said in a joint statement.
The new company would be independently managed and operated, and offer services to all telecom operators. The main benefit would be accelerated expansion of coverage, especially in rural areas, which would help to meet Indian government targets.
“The formation of Indus Towers will enable telecom operators to reduce operating costs through economies of scale,” the statement added.