Indus Towers Ltd.

Compassvale Investments, an arm of Temasek, has cut its stake in Bharti Infratel by selling around 1.737 crore shares at an average price of Rs 380.04.  As of June end, Compassvale Investments held 3 crore shares, representing 1.58 per cent of Bharti Infratel.

The fund house has been reducing its stake in the telecom infrastructure major in the last few quarters. It may be recalled that in February this year, Bharti Airtel, the promoter of Bharti Infratel, sold 5.5 crore shares, thus reduced its holding to 71.81 per cent from 74.85 per cent.

Bharti Infratel is a provider of tower and related infrastructure and on a consolidated basis, it is one of the largest tower infrastructure providers in India, based on the number of towers that Bharti Infratel owns and operates and the number of towers owned or operated by Indus, that are represented by Bharti Infratel’s 42% equity interest in Indus.