Bharti Infratel jumps on tower sharing pact

Tags: Companies
Shares in India's Bharti Infratel gain 5.3 percent after the company entered into a tower sharing pact with Reliance Jio Infocomm, Reliance Industries' telecom unit.

"Reliance Jio can hire nearly 5,000 towers from Bharti Infratel in FY15 which means a rental income of around 2 billion rupees for the company," an analysts tracking the sector said.

Reliance Industries and Bharti Airtel Ltd in December 2013 had agreed to share network infrastructure.

Bharti Infratel is the tower unit of Bharti Airtel.

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