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American Tower Corp Set to Pick up 51% in Tower Company Viom for $1 bn

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American Tower Corp (ATC) is close to sealing a deal worth $900 million-$1 billion to acquire a 51% stake in Viom Networks, which will be followed by a merger of the Indian unit of ATC with Viom, bringing the curtains down on year-long talks.

Viom is majority-owned by the Tatas (54%), who hold the stake through unlisted telecom arm Tata Teleservices.

Srei, promoted by the Kolkata-based Kanoria family, owns around 18.5% while the rest is held by a clutch of PE funds including IDFC Private Equity, SBI Macquarie, Oman Investment Fund, GIC of Singapore and AMP Capital. Original post at ET Telecom

Wahengbam Rorrkychand

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Website: http://www.blog.tonsetelecom.com

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