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Vodafone, Idea to sell tower business to ATC Telecom Infrastructure


Vodafone, Idea to sell tower business to ATC Telecom Infrastructure

New Delhi, Nov 13 (ANI): Vodafone India and Idea Cellular will sell their standalone tower businesses to ATC Telecom Infrastructure. Idea Cellular board has approved the sale of its subsidiary Idea Cellular Infrastructure Services Limited (ICISL) for an enterprise value of Rs 4,000 crore.

Vodafone has also agreed to sell its tower business in India to ATC Telecom for an enterprise value of Rs 3,850 crore. The Indian subsidiary of American Tower Corp.

will gain approximately 20,000 towers. The deal is scheduled to be completed by the first half of 2018, subject to regulatory approvals.

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