An infrastructure fund set up by Australia’s Macquarie and State Bank of India (SBI) is reportedly lining up the acquisition of a 10% stake in Indian towers company Tata-Quippo.
According to the Economic Times, the fund is ready to pay US$310m for the…
An infrastructure fund set up by Australia’s Macquarie and State Bank of India (SBI) is reportedly lining up the acquisition of a 10% stake in Indian towers company Tata-Quippo.
According to the Economic Times, the fund is ready to pay US$310m for the stake, although the seller may be entitled to think it could garner a higher price, given the valuation of other deals recently carried out in the towers space.
Tata-Quippo was formed in 2009 when Quippo Telecom Infrastructure merged its towers portfolio with that of Tata Teleservices. Tata and Quippo own 51% and 49% of the company respectively.
The report stated that the deal would be completed within two months.
