Boston-based American Tower is reportedly in fresh talks to acquire Guragon-based TowerVision India, following an earlier failed attempt to do so.
While the Times of India said the valuation of the potential deal could not immediately be ascertained, it…
Boston-based American Tower is reportedly in fresh talks to acquire Guragon-based TowerVision India, following an earlier failed attempt to do so.
While the Times of India said the valuation of the potential deal could not immediately be ascertained, it cited sector analysts as saying the Indian telecoms tower management firm, whose shareholders include Israel’s Fore Group and US private equity firm Quadrangle, would be unlikely to attract higher offers than it did in December 2010.
At that time, it was reported that TowerVision was considering selling some operations in a deal that could raise up to US$700m. American Tower, GTL Infrastructure and Indus Towers were said to be among the bidders.
Meanwhile, India’s Economic Times has reported that TowerVision’s principal shareholders are in talks with American Tower and several large private equity firms about selling a controlling stake in the company. According to the report, which cited multiple sources familiar with the matter, the talks with American Tower are the most advanced. TowerVision shareholders hope to conclude the deal this year, the report stated.
In September 2011 American Tower, private equity firm Carlyle and India’s Bharti Airtel had submitted bids for TowerVision. At the time bids were said to value the towerco at US$700m.
American Tower has a portfolio of about 54,000 owned or managed sites in the Americas, Africa, India, the UK and Germany. The company bought its 2,000 German Towers from Dutch telco KPN’s local subsidiary E-Plus for €393m (US$501m) in November 2012.
According to the Times of India report, if the American Tower/TowerVision talks are successful, it would mark the first M&A deal in the tower sector since the spate of consolidations in 2009 and 2010.
The parties were not immediately available for comment.
