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November 13th, 2017 1:25 PM 9 COMMENTS

Ahead of Merger, Vodafone and Idea Sell Standalone Tower Businesses to ATC Telecom for $1.2 Billion

India's second and third largest telcos by subscribers, Vodafone India and Idea Cellular, have separately agreed to sell their respective standalone tower businesses in India to ATC Telecom Infrastructure Private (ATC TIPL) for an aggregate enterprise value of Rs 78.5 billion or $1.2 billion, an official statement said. The transaction is expected to take place during the first half of the calendar year 2018. Idea will sell its entire stake... Read More

May 22nd, 2015 10:17 PM 6 COMMENTS

Hit by spectrum auction, Idea to sell its towers Multinationals show interest in the deal

Idea Cellular, one among the debt-laden companies after expensive spectrum auction as part of fresh capital-raising plans is planning to sell its to sell its independent towers. The Aditya Birla Group subsidiary is looking for a Rs 7,580-crore ($1.2 billion) revenue from the deal. Sources reveal Economic Times that Malaysia’s Axiata, Bharti Infratel and American Tower Corporation (ATC) have expressed their interest in the deal. Idea Cellular is India's third... Read More

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