NEW DELHI: Rating agencies Fitch and Moodys Investors Service have said that sale of tower assets can help telecom companies shed debt but there may be no near-term improvement in profitability due to heightened competition after Reliance Jio Infocomms entry.
The agencies on Thursday said Bharti Airtels stake sale in its tower subsidiary and similar moves planned by Idea and Vodafone India will help the telcos reduce debt.
Bharti Airtels on Wednesday sold 10.3% stake in Bharti Infratel for $952 million to KKR and Canada Pension Investment Board. Idea and Vodafone India are reportedly planning to sell stake in Indus Towers, the countrys largest telecom tower company.
Earlier this month, Gopal Vittal, Bharti Airtels chief executive fo…
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