ATC to Buy Essar Telecom Infrastructure for Rs 2000 Crores

By February 24th, 2010 AT 6:16 PM

Transcend Infrastructure Limited (TIL) wholly owned Indian subsidiary of American Tower Corporation today announced that they have entered into a definitive share purchase agreement with three Indian companies of the Essar Group to acquire substantially the entire issued share capital of Essar Telecom Infrastructure Private Limited (ETIPL) in an all cash deal.

The Transaction values ETIPL at an enterprise value of approximately Rs 2000 crores, and is subject to certain post closing adjustments. The Transaction is subject to certain pre-completion requirements and is expected to be completed in approximately 3 months.

Commenting on the Transaction Amit Sharma, Executive Vice President and President Asia of ATC said: “The addition of ETIPL to American Tower ’s existing Indian operations will significantly strengthen our ability to serve our telecom customers; this will help them in enhancing their network coverage and in launching new technologies like 3G and WIMAX.”

ETIPL is one of India ’s largest independent tower companies with a portfolio of approximately 4,450 wireless communications tower sites including a number of towers under construction. They operate across 12 of the 22 telecom circles in India and have an industry leading tenancy ratio of 1.8x.

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firstonnetPrasath J Recent comment authors
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firstonnet
firstonnet

We can say good news for our telecom sector, now US also showing interest towards Indian telecom sector after restrictions from US President. Great….
Expecting after all oure network coverage will be improved due to these ready to radiate sites.

Prasath J
Prasath J

Earlier Huwaei was found installing s/w in its towers given to BSNL to pass info to Chinese gov… Now american co is entering… Only god should help we poor Indians.. NOBODY in earth cares about them…

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