VOD Vodafone Group Plc

   By Kosaku Narioka 
 

Bharti Infratel Ltd. said Saturday it has received a foreign-direct-investment approval from India's department of telecommunications to merge with Indus Towers Ltd.

Bharti Infratel, an Indian telecom tower operator, owns a 42% stake in Indus Towers. Vodafone Group PLC has another 42%, Indian mobile company Vodafone Idea Ltd. holds 11% and American private equity firm Providence Equity Partners controls the remaining 5%.

Bharti Infratel shares are down 0.2% after it rose in earlier trade, while Vodafone Idea shares are down 0.5%.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

February 24, 2020 00:13 ET (05:13 GMT)

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