MUMBAI (NewsRise) -- Bharti Airtel, India's largest mobile phone company, has dropped its plan to sell a controlling stake in unit Bharti Infratel after the mobile tower operator's shares plunged following talks of a potential merger between two of its main tenants.
"The board has...decided not to monetize controlling stake in Infratel for now," Bharti Airtel said in a statement. The company, backed by billionaire Sunil Bharti Mittal, is pursuing the sale of a minority stake in the unit instead.
