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American Tower to buy telecoms masts from Idea, Vodafone for $1.2 billion


By Sankalp Phartiyal and Arnab PaulMUMBAI/BENGALURU (Reuters) - American Tower Corp has agreed to buy about 20,000 mobile phone masts for 78.5 billion rupees ($1.2 billion) from Idea Cellular and Vodafone India, who are seeking to merge.As part of the merger deal agreed in March, Vodafone India and Idea are selling the masts they own separately from their Indus Towers joint venture. Idea's share of the sale to American Tower will be 40 billion rupees, while Vodafone India will get 38.5 billion rupees.The two companies have also said they will look at selling their holdings in Indus, the ...

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First Published: Tue, November 14 2017. 10:23 IST