Mumbai, July 9
Telecom major Idea Cellular has received shareholders' approval to hive off its tower business into a subsidiary company Idea cellular Towers Infrastructure, the company said Thursday.
Its rivals Airtel and Reliance Communications had earlier demerged their passive infrastructure - towers and base stations - business to save costs.
"Shareholders have approved the scheme of arrangement on demerger of passive infrastructure of the company to its wholly-owned subsidiary Idea Cellular Towers Infrastructure, with requisite majority,” the company said in a regulatory statement.
Infrastructure operations consist of tower, generator and other non-core telecom network related assets of wireless operators.