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ATC to buy 51% in Indian towers operator Viom for INR 76 bln
2015-10-21 14:39:00| Telecompaper Headlines
(Telecompaper) American Tower Corporation confirmed an agreement to buy a 51 percent stake in Indian towers operator Viom Networks for INR 76 billion (EUR 1 billion) from mobile operator Tata Teleservices and SREI Infrastructure Finance. The agreement includes conditions for ATC to buy the remaining 49 percent held by Tata Teleservices, Macquarie SBI Infrastructure Investments, SBI Macquarie Infrastructure Trust and IDFC Private Equity Fund. After completing the takeover, American Tower will merge its existing Indian portfolio of approximately 14,000 towers with Viom, which operates around 42,200 towers and 200 DAS in India. Started as a joint venture by Tata with local investors, Viom now serves nearly all of India's major mobile operators. The company generated INR 50 billion in rental and management revenue and INR 21 billion in gross profit in the three months to June 2015. Viom had INR 58 billion of debt at the end of September.
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indian
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towers
Category:Telecommunications