March 20th, 2024 8:54 AM 0 COMMENTS

ATC India to Convert OCDs Issued by Vodafone Idea into Equity Shares

Vodafone Idea Limited (VIL) has announced the conversion of Optionally Convertible Debentures (OCDs) into equity shares, following a request from ATC Telecom Infrastructure Private Limited (ATC). The conversion, valued at Rs 14.4 billion (Rs 1,440 crore), will result in the issuance of 144 crore fully paid-up equity shares with a face value of Rs 10 each, Vodafone Idea said on Tuesday. Reportedly, ATC will hold around 2.9 percent of the... Read More

November 15th, 2023 10:52 AM 0 COMMENTS

ATC Close to Selling India Unit at $2.2 Billion

The American Tower Company (ATC) has been looking to sell its Indian unit for quite some time. I Squared Capital, a US-based infra private equity firm, is the leading player to buy off the company. The issue with ATC's Indian unit is that its financials have been hit due to non-payment by a key customer, Vodafone Idea Limited (VIL). Back in September, ATC had to record a goodwill impairment charge... Read More

November 7th, 2023 7:10 AM 0 COMMENTS

ATC Takes USD 322 Million Goodwill Impairment Charge for India Unit

American Tower Corp (ATC) has reported a USD 322 million goodwill impairment charge for its India unit in the quarter ending September 2023. A goodwill impairment charge occurs when the value of an asset, in this case, the India unit of ATC, decreases significantly, rendering it either worthless or of lower value on the company's balance sheet. The charge was attributed to ongoing business challenges in India. The fair value... Read More

August 24th, 2023 11:56 AM 0 COMMENTS

ATC Could Sell 51% Stake in Indian Unit to I Squared Capital

American Tower Company (ATC) could soon sell a majority stake in its Indian company to US-based I Squared Capital. As per an ET report, the tower company may be looking to sell a 51% stake in ATC Telecom Infrastructure Pvt Ltd. The company could entirely cash out as well at an enterprise value of $1.5-$2.0 billion USD. But I Squared isn't the only player who is looking for a stake... Read More

May 4th, 2023 5:10 PM 4 COMMENTS

ATC Records $16 Million Unrealised Loss on Vodafone Idea’s OCDs

American Tower Corp (ATC), the Boston-based tower company, has reported an unrealised loss of nearly $16 million on the optionally convertible debentures (OCDs) issued to it by Vodafone Idea (Vi), its biggest customer in India. In a filing with the US Securities and Exchange Commission (SEC), ATC said it recognised unrealised losses of $15.7 million for the Vi OCDs held as of March 31, 2023. According to an ET report,... Read More

April 27th, 2023 6:35 PM 1 COMMENTS

American Tower Corp Explores Options for its Indian Unit

American Tower Corp (ATC) is reportedly considering a sale of its wholly owned Indian unit, ATC Telecom Infrastructure Pvt Ltd (ATC TIPL), after its efforts to sell a 50% stake failed to attract any buyers. The tower company is said to be open to selling a majority stake or even 100% ownership and exiting the country. According to an ET report, ATC has re-engaged with Canada’s Brookfield, which is evaluating... Read More

March 17th, 2023 2:58 PM 4 COMMENTS

ATC Looking to Sell Stake in India Business to Reduce Exposure

The American Tower Company (ATC) is looking to sell a stake in its Indian business unit to one or more private investors. The Boston-based tower company wants to reduce exposure in the Indian market. Vodafone Idea (Vi), the ailing private telecom company, is the biggest customer of ATC in India. According to an ET report, in a recent filing in US Securities and Exchange Commission (SEC), the company said that... Read More

October 23rd, 2022 10:59 AM 4 COMMENTS

Vodafone Idea Fundraising Plans Become Clear

The sale of Rs 1,600 crore worth of convertible bonds to ATC Telecom Infrastructure was approved by the board of Vodafone Idea Ltd. on Friday. Vodafone Idea would use the money to settle some of the outstanding debts it has with the tower operator since it rented out its equipment to offer mobile phone services in India. Information Regarding the Fundraising Vodafone Idea owes close to Rs 3,000 crore to ATC... Read More

October 12th, 2022 12:17 PM 1 COMMENTS

Airtel Africa and ATC to Bring Network Coverage in Rural Areas

A inter strategic relationship between Airtel Africa and American Tower (ATC) has been established. It covers communication sites in Kenya, Niger, Nigeria, and Uganda and is focused on expanding digital literacy to underserved populations and furthering the two companies' green initiatives. As per Airtel Africa and ATC, they would gradually adapt current telecom sites to satisfy ATC green landscape. American Tower Has Spent Almost $300 Million on Remedies and Enhancements... Read More

May 7th, 2021 6:24 PM 0 COMMENTS

Indian Telecom Coverage Set to Improve, New Tower Construction Faces Timing Issue

American Tower continues to “collect and be pleased” with the way its clients are “paying in India,” says Rod Smith, executive vice president of American Tower. Smith in the first quarter earnings call on April 29, 2021, said that American Tower is “watching” its clients across the globe including a “couple in Africa and a couple in India.” However, the executive vice president of American Tower said that the company... Read More

September 16th, 2020 5:42 PM 30 COMMENTS

Supreme Court Verdict Gives Vodafone Idea “Some Breathing Room”

American Tower Corporation (ATC), one of the leading infrastructure providers engaged in the telecom space said that the Supreme Court verdict on the adjusted gross revenue (AGR) case gives “Vodafone some breathing room.” Tom Bartlett, president and CEO of ATC on Tuesday reflected on the Indian telecom space at the Goldman Sachs 29th Annual Communacopia Conference. Bartlett said that the company is “optimistic” about what it is seeing in the... Read More

August 3rd, 2020 1:46 PM 0 COMMENTS

Indian Telecom Networks Are Ill Equipped: ATC

Tom Bartlett, president and CEO of American Tower Corporation (ATC) in the earnings call on Thursday said that the Indian telecom networks are ill equipped to handle 4G levels of traffic for more than billion people. The company had earlier reported the second quarter financial results for the period ended June 30, 2020 with ATC recording an 1.2% increase in its total revenues to US$1,913 million. ATC said that its... Read More

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