American Tower Corporation Atc

DIT pips Indus Towers to become India's largest mobile tower company

Data Infrastructure Trust on Thursday said it has pipped Indus Towers to become India's largest mobile tower company after acquiring American Tower Corporation's operations in the country. Data Infrastructure Trust (DIT) is backed by Brookfield Asset Management along with affiliates of investors including British Columbia Investment Management Corporation (BCI) and GIC. The firm acquired 100 per cent of American Tower's operations in India comprising the buyout of approximately 76,000 communications sites in India for an enterprise value of Rs 18200 crore or about USD 2.2 billion. "With this acquisition, the Brookfield-led consortium reinforces its commitment to connecting India with an expanded portfolio of 257,000 telecom sites," DIT said in a statement. DIT's Telecom Infrastructure portfolio will be housed under the new brand name Altius. Bharti Group owned Indus Towers had a portfolio of 2,25,910 as of June 30, 2024. ATC India is Brookfield's third acquisition in the Indian .

M&A deals hit slow lane, drop 43% in deal value since January 2024

Indian companies had reported deal value worth $23.5 billion between January to 22 March 2023

ATC opts to convert Rs 1,440 crore Voda Idea debt bonds into equity

Move to marginally reduce Vi's debt burden, ATC to continue holding Rs. 160 crore Vi OCDs

Canada-based Brookfield Asset Management to buy ATC India in $2 bn deal

Brookfield to become largest manager asset in India, beating Indus Towers

Vodafone Idea approves debentures worth Rs 1,600 crore to ATC Telecom Infra

The fresh approval was necessitated as the nod granted by the shareholders had lapsed

Indus Towers accepts Vodafone Idea's payment plan for its dues

Indus Towers posted a net profit of Rs 872 crore in the second quarter of the fiscal year (FY2023) on a revenue of Rs 7,967 crore

Equity issue to govt is precondition for Vodafone Idea debenture issue

Last Friday, firm's Vi decided to issue 16,000 OCDs to American Tower Corporation and raise Rs 1,600 cr. Company has convened EGM on November 21 to approve the plan

Vodafone Idea gets board of directors' nod to raise Rs 1,600 cr from ATC

Board approves issue of debentures

ATC sees huge opportunities in a challenging and competitive market

The firm bought out, recently, Tata group's 12.3 per cent stake in ATC Telecom Tower Infrastructure for Rs 2,480 crore, raising its stake to 91 per cent

US giant American Tower Corporation takes a call on Indian telecom

Other foreign majors are headed for the exit, but ATC sees big potential in tower business