Bharti Mobile Phone Tower Eyes $1 Bln IPO - FT

India's largest cellular carrier Bharti Airtel is considering raising up to $ 1 billion initial public offering (IPO) of its cell phone tower arm Bharti Infratel, according to Financial Times on Wednesday.

The group is understood to keep early talks with bankers about a list that saw the participation of Bharti Infratel unit towers valued at as much as $ 10 billion, said the FT.

FT, referring to the process of their loved ones, also said that the talks are understood to be a very early stage. Banks Morgan Stanley and Standard Chartered are among those conducting the negotiations, added the newspaper.

Eighth July, Reuters reported that Bharti Infratel is planning an IPO of at least $ 500 million is expected to file to adjust the paper in September or October.

Bharti Infratel, which has more than 30,000 cell phone towers, and then 42 percent participation in Indus Towers, the world's leading telecommunications tower company has more than 110,000 towers.

Bharti Airtel and banks are not available for immediate comment.