The owners of Indian towerco Viom Networks, Tata Teleservices and SREI group, are in talks with TPG Partners and Sumitomo Corporation of Japan to sell the company, according to the Economic Times.
Viom, which says it operates approximately 39,000…
The owners of Indian towerco Viom Networks, Tata Teleservices and SREI group, are in talks with TPG Partners and Sumitomo Corporation of Japan to sell the company, according to the Economic Times.
Viom, which says it operates approximately 39,000 towers in India, has unsuccessfully looked to reorganise its operations on several occasions over the past few months.
In June, the company decided to cancel plans to list on the Bombay Stock Exchange, after executives reportedly argued that the time may not be right for an IPO given the state of the equity market at the time, and the controversy surrounding the Indian telecom sector amid the 2G scam.
Soon after, Viom reportedly said it was no longer looking to acquire Reliance Infratel, the tower unit of local mobile operator RCom following valuation issues.
More recently, rumours of a deal with another towerco, GTL, have been circulating. But sources quoted by local newspapers reportedly said that the transaction is unlikely to go through because of potential valuation differences and GTL’s US$2bn debt load.
According to reports, Tata Teleservices and SREI have also been entangled in a dispute over financial irregularities within Viom.
The companies were not immediately available for comments.
