Indian cellco Bharti Airtel, US-based American Tower and private equity firm Carlyle have submitted bids for a stake in TowerVision, according to the Economic Times citing people familiar with the matter.
The independent telecom tower company provides…
Indian cellco Bharti Airtel, US-based American Tower and private equity firm Carlyle have submitted bids for a stake in TowerVision, according to the Economic Times citing people familiar with the matter.
The independent telecom tower company provides passive infrastructure to mobile operators. It reportedly has 5,500 completed mobile towers and is building another 2,500.
Reports recently wrote that shareholders would seek to raise more than US$125,000 per completed tower, valuing TowerVision at approximately US$700m.
Rumours of a potential stake sale have been circulating for a while.
In early December 2010, owners US PE firm Quadrangle and Israeli investor Fore Group were already considering selling some operations. At the time, American Tower, Indus Towers and GTL Infrastructure had been reported to be among the bidders.
The parties did not immediately respond to requests for comments.
