Quippo-Wireless TT Info Services has signed an agreement to acquire Indian tower firm 21st Century Infra Tele (Infra), a subsidiary of Tata Teleservices Maharashtra, for US$290m.
Infra currently holds 2,535 towers in Mumbai, Maharashtra and Goa.
Once the…
Quippo-Wireless TT Info Services has signed an agreement to acquire Indian tower firm 21st Century Infra Tele (Infra), a subsidiary of Tata Teleservices Maharashtra, for US$290m.
Infra currently holds 2,535 towers in Mumbai, Maharashtra and Goa.
Once the deal goes through, Quippo will have 38,000 towers in its portfolio with tenancy ratio of over two per tower.
Tata said that the transaction would result in a net cashflow to it of over US$200m, to be spent on investment and growth plans.
With the acquisition, Quippo has become the world’s largest independent telecom tower company.
In early 2009, Tata and the SREI Group merged their tower assets to form Quippo Wireless TT Info Services, with the latter holding 49% and management control in the firm.
