American Tower boosts India presence with $1.2B site deal

Idea Cellular, Vodafone to sell tower businesses to ATC Telecom for ...

The tower deals with ATC are likely to be completed by June 2018.

Also, Vodafone India and Idea Cellular - which are slated to merge soon - have chose to sell their respective tower businesses in India to ATC Telecom Infrastructure for Rs 7,850 crore. "The parties will work together to further the expansion of high speed mobile networks in India", the companies said.

The deal will make American Tower Corp one of the top players in the tower infrastructure market in India along with Bharti Infratel and Indus Towers.

Canada's Brookfield, which called off talks to buy a stake in struggling Indian network operator Reliance Communications masts arm, has said it is open to acquiring the business under revised terms, while it looks at other potential opportunities in the India.

American Tower, which agreed to take control of Indian masts operator Viom in 2015 for 76 billion rupees, has been steadily expanding its presence in India - the world's second biggest wireless market with 1.2 billion mobile subscribers. Vodafone India will receive Rs. 38.5 billion and Idea will get Rs. 40 billion from the transaction. Idea Cellular Infrastructure Services Ltd, a unit of Idea Cellular, had around 9,900 towers with a tenancy ratio of 1.80 as of 30 September 2017. It will have revenue of Rs81,600 crore and an operating profit of Rs24,400 crore.

Shares of Idea Cellular today fell almost 4 per cent after the company posted a loss of Rs 1,106.80 crore for the second quarter this fiscal.

The standalone tower businesses of Vodafone and Idea comprise a combined portfolio of almost 20,000 towers. Completion of the transaction is subject to customary closing conditions and receipt of necessary regulatory approvals, and is expected to take place during the first half of calendar year 2018.

Related News:

  • Chevrolet Corvette ZR1: Fastest. Vette. Ever

    Chevrolet Corvette ZR1: Fastest. Vette. Ever

    The new LT5 V8 makes most of its extra power gains over the old LT4 thanks to a 52-percent larger displacement supercharger. Chevrolet didn't go into specifics but confirmed the model has a top speed in excess of 210 miles per hour (337 km/h).
    Pixel 2 XL Screen Flashes When Locking or Unlocking, Some Users Report

    Pixel 2 XL Screen Flashes When Locking or Unlocking, Some Users Report

    After weeks of discussion, recent user comments suggest there is a temporary fix for the issue - blowing into the bottom speaker. After a series of flow in the Pixel 2 XL , the smaller sibling is now facing some issue related to the microphone.
    'Pokemon Go' creator set to release 'Wizards Unite' in 2018

    'Pokemon Go' creator set to release 'Wizards Unite' in 2018

    As Niantic have seen such success using AR for Pokemon Go , they've brought this technology to their upcoming game. On January 1, 2018, the network will air a chronological Harry Potter marathon.
  • KGI analyst expects three iPhones next year, two with OLED

    KGI analyst expects three iPhones next year, two with OLED

    According to the complaints, when used as a speakerphone at high volumes, the iPhone X earpiece speaker can buzz or crackle. Both the 64GB and 256GB versions have been affected and this is the same for both Silver and Space Grey devices.
    Arthur Blank and Jerry Jones avoid each other before teams play

    Arthur Blank and Jerry Jones avoid each other before teams play

    Now, some owners have considered the idea of the nuclear option: taking the Dallas Cowboys away from Jerry Jones . The movement grew this year, particularly after President Trump said owners should fire anyone who takes a knee.
    Italy face crunch Sweden game as World Cup disaster beckons

    Italy face crunch Sweden game as World Cup disaster beckons

    Ireland take on Denmark in Dublin on Tuesday, with the tie finely poised at 0-0 after the teams' draw in Copenhagen on Saturday. And now we have the catalogue of penalty appeals during this Italy-Sweden clash, all of which were overruled by Lahoz.
  • Hope Solo accuses Sepp Blatter of 'grabbing' her inappropriately

    Hope Solo accuses Sepp Blatter of 'grabbing' her inappropriately

    Blatter also famously argued in 2004 that players could boost the popularity of the women's game by wearing tighter shorts . Disgraced ex-Fifa president Sepp Blatter has been accused of sexual assault by veteran USA women's goalkeeper Hope Solo .
    Panel for pay hike of lower court judges likely to be setup

    Panel for pay hike of lower court judges likely to be setup

    The two were accused of assuring the college representative of getting favourable orders from the top court. Given the seriousness of the matter, the judge chose to take up the petition in the afternoon.
    Students in Custer honored veterans with 23rd annual program

    Students in Custer honored veterans with 23rd annual program

    The students later broke out into groups meeting with each veteran to hear about their experience one-on-one. Many schools around the county are making an effort to honor and teach the significance of Veterans Day.
  • President Trump Strikes Back at 'Short and Fat' Kim Jong Un

    President Trump Strikes Back at 'Short and Fat' Kim Jong Un

    This is the first time three carrier strike groups will operate together since 2007 during an exercise off the coast of Guam, according to the Navy.
    Hungry panda 'photobombs' Melania Trump

    Hungry panda 'photobombs' Melania Trump

    On Friday, Melania had an opportunity to feed Gu Gu, the facility's celebrity panda, and learn about his nutrition and training. Earlier Friday, the Slovenian immigrant and former fashion model went to the Beijing zoo to check out a very important panda.

    Jose Altuve and Buster Posey win fourth Silver Slugger Awards

    November 9: DH Nelson Cruz wins American League Silver Slugger award after hitting 39 home runs leading the league with 119 RBIs. He also hit 24 homers, had 81 RBIs and stole 32 bases in the regular season to lead the Astros to the AL West title.


Most liked

Korea Start Drills In Show Of Force Against N. Korea
The US and North Korea have always been engaged in back-and-forth barbs over the latter's threat of a nuclear attack. The North Korean spokesman, though, said nothing would strop Pyongyang from pursuing its nuclear weapons program.

Philippines president says South China Sea row 'better left untouched'
The framework seeks to advance a 2002 Declaration of Conduct (DOC) of Parties in the South China Sea. Carrying placards declaring "Dump Trump " and "Down with U.S.

Tennessee Fires Butch Jones; Hoke Is Interim Coach
Jones began his head coaching career at Central Michigan before moving to Cincinnati and eventually to Tennessee in 2013. His final game as head coach was the Vols most lopsided loss to an unranked opponent in AP poll era history.

DeShone Kizer returns to Browns vs. Lions game
Kizer missed two second-half possessions after suffering a rib injury on a third-quarter hit from cornerback Quandre Diggs. The Browns had a second-and-10 when Kizer flared a pass to tight end Seth DeValve in the right flat for a nine-yard gain.

Disneyland shuts down 2 cooling towers after Legionnaires' disease cases
It is treated with antibiotics and hospital care, but one in 10 of those who contract the disease dies from infection. Most cases of the infection start when people inhale microscopic water droplets containing legionella bacteria.

Several people feared dead after tourist ferry capsizes in Andhra
The tourism department of Andhra Pradesh had given permission for private agencies to operate boats to Bhavani Island regularly. Some of the survivors complained that the police that the boat was shaking right from moment it started from Bhavani Island.

Seven dead as 7.3 magnitude natural disaster hits Iraq
Iranian official says at least 30 people killed, more than 200 injured during natural disaster on Iran-Iraq border region. Iranian TV says Iraqi officials have reported at least six people dead on Iraq's side of the border from Sunday's quake.

Veteran's Day parade Saturday
For those who can't attend, the Courier will be showing live video of the parade from the newspaper office on Main Street. A parade will begin at 10:45 a.m.at the corner of Lincoln Way and Cleveland Street and will proceed down Lincoln Way.

Nvidia is about to release its earnings (NVDA)
The shares price go up so far this year; showing a rise of 92.36% and dropped with negative flow of -0.30% during recent week. Cryptocurrencies have been a boon for Nvidia's graphics processing units, which are prominent in gaming and machine learning.

Alibaba racks up $35b in Singles' Day sales
E-commerce giant Alibaba on Saturday kicked off its ninth edition of the 11.11 Global Shopping Festival, its annual sales event. But environmentalists accuse Alibaba and other e-tailers of fuelling a culture of excessive consumption and mountains of waste.

Louis CK's new film will not be released following sexual misconduct allegations
The comedian's publicists initially said that they were not issuing a statement. He did not make clear how long he would be stepping back for.

'Flexible' Pakistan allows wife to meet Kulbhushan Jadhav
In May this year, India moved the International Court of Justice against the death sentence without giving him a fair trial. India had requested a Pakistani visa for Jadhav's mother, Avantika, who wanted to meet her son in Pakistan.

JC Penney Stock Surges as Turnaround Plan Shows Results
Penney Company, Inc. might touch $5 high while the Average Price Target and Low price Target is $3.34 and $1.5 respectively. At the close of regular trading, its last week's stock price volatility was 17.79% which for the month reaches 36.3%.

Moscow plans retaliation to "US pressure on Russian media"
The decision came in the wake of investigations into Kremlin attempts to interfere in the 2016 US presidential election. Russian influence in the US has come under increasing scrutiny in the months following the 2016 presidential elections.

TTV Dinakaran: Centre can't harm us by conducting IT raids
Security personnel arrived in large numbers early at Jaya TV office at Ekkaduthangal and stood guard at the entrance. It is now being controlled by jailed AIADMK leader VK Sasikala's family members, led by her nephew Vivek Jayaraman.