Have submitted non-binding bid for Aircel tower biz: Quippo
Published on Tue, Aug 18, 2009 at 21:29 | Source : CNBC-TV18
Updated at Tue, Aug 18, 2009 at 22:21
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Have submitted non-binding bid for Aircel tower biz: Quippo
Quippo MD Sunil Kanoria says, the company has closed financing to fund merger with Wireless-TT Infoservices (WTTIL). WTTIL is Tata Teleservices (TTSL) tower company. Kanoria says, the company’s existing shareholders have hiked stake in merged entity. “No plans of coming out with issue in capital markets.”
Sunil Kanoria, MD, Quippo, says the company has closed financing to fund the merger with Wireless-TT Infoservices, a Tata Teleservices tower company. The company's existing shareholders, he says, have hiked stake in merged entity. "No plans of coming tapping the capital markets."
Under Quippo-WTTIL's merger terms, Quippo promoters are supposed to pick up 49%. "We have submitted non-binding bid for Aircel tower business. Funding is not a problem for the bid," he added. Aircel tower business is valued between USD 1.8-2 billion.
Sunil Kanoria, MD, Quippo, says the company has closed financing to fund the merger with 
