Airtel mulls sale of tower business amid price war with Reliance Jio

Bharti Airtel Ltd is exploring options of full div... moreBharti Airtel Ltd is exploring options of full divestment in tower infrastructure business. The move may help Airtel sharpen focus on core business of wireless services. There is a possibility of a stake sale in merged entity of Bharti Infratel Ltd & Indus Towers Ltd. Such a deal may also allow Airtel to strengthen its war chest amid fierce competition with Jio. In April 2018, the firm had agreed to merge to form the world's second largest telecom tower firm. Vodafone India, Bharti Infratel and Idea Cellular started Indus Towers as a joint venture. Operators also need to raise cash for a planned airwave auction in January 2020.