NEW DELHI: Bharti Infratel, a wholly owned subsidiary of Bharti Airtel, on Friday announced that leading international investors have decided to invest $1 billion in Bharti Infratel.

The international investors are: Temasek Holdings, the Investment Corporation of Dubai (ICD), Goldman Sachs, Macquarie, AIF Capital, Citigroup and India Equity Partners (IEP), with Temasek Holdings being the largest investor.

The enterprise valuation has been agreed to be in the range of $10-12.5 billion and the final valuation, within this range, will be determined on the basis of Bharti Infratel’s actual operating performance during 2007-08, according to a company release here.

This placement highlights the confidence of leading global investors in the Indian telecom sector, which is now the fastest growing telecom market in the world, and the Bharti group.

Bharti Infratel owns close to 20,000 sites and holds about 42 per cent stake in Indus Towers, the recently announced joint venture between Bharti, Vodafone and Idea, which has over 70,000 sites. Bharti Infratel and Indus Towers will provide passive infrastructure services to all wireless telecom operators in India on a non-discriminatory basis.

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