Towerco in scrap with Aircel

16 Apr 2013

Indian towerco GTL Infrastructure is seeking compensation of between INR10 billion and INR15 billion (USD183.27 million to USD274.91 million) from Aircel, over claims that the operator failed to meet obligations to provide new tenancies under the terms of GTL’s purchase of Aircel’s towers. The Times of India cites sources briefed on the matter as saying that the cellco rebuffed GTL’s claims, saying that poor tower management had resulted in subscriber losses. According to an unnamed source, GTL received 1,800 new tenancies, whilst 20,000 were due. GTL is planning to invoke bank guarantees, though a face-saving settlement is reportedly in the works.

India, Aircel