ATC to complete Viom takeover

7 Sep 2015

American Tower Corp (ATC) is to complete a long-delayed deal to acquire a majority stake in Indian tower firm Viom Networks, the Economic Times writes, citing three people familiar with the matter. Under the deal, ATC will purchase the 18.5% stake held by Srei Group, as well as the holdings of several smaller shareholders and the lion’s share of Tata Group’s 54% stake, although the latter will retain 26% of Viom’s shares. Viom, which operates 41,000 towers in India and has a further 1,000 under construction, was reportedly valued at INR190 billion (USD2.84 billion) by the deal, including debt of around INR65 billion.

India, Tata Teleservices (TTSL, incl. TTML, Tata Tele Broadband)