India, April 11 -- Bharti Hexacom has announced that the proposed sale of its infrastructure division to Indus Towers has been placed on hold. In February, Indus Towers had revealed plans to acquire the mobile tower assets of Bharti Airtel Limited and Bharti Hexacom Limited for a total of Rs 3,308.7 crore. However, the transaction has now been paused.

Bharti stated,"Telecommunications Consultants India Limited (TCIL), a public sector undertaking and a significant shareholder in Bharti Hexacom, has requested the company to initiate a fresh process that aligns with the requirements of TCIL as a Public Sector Undertaking."

The statement further read,"while the management and board of Bharti Hexacom continue to believe in the business ratio...