SINGAPORE - Singtel's Indian associate Bharti Airtel is proposing to sell about 25 per cent of its stake in wholly-owned data centre subsidiary Nxtra Data for US$235 million to an affiliate of global investment firm The Carlyle Group.
The transaction is subject to the necessary regulatory approvals, including approval from the Competition Commission of India, according to a Bharti Airtel statement shared by Singtel as a regulatory update on Wednesday It has a nationwide portfolio of 10 large data centres and more than 120 edge data centres providing customers with co-location services, cloud infrastructure, managed hosting, data backup, disaster recovery, and remote infrastructure management.
Neeraj Bharadwaj, Carlyle Asia Partners advisory team managing director, said that India is set to become one of the largest markets in the world for digital services.