Telecom infrastructure firm American Tower Corporation (ATC) today announced that it has completed mobile tower purchase deal worth Rs 3,800 crore with Vodafone India through its Indian arm.
According to a senior official, the government is awaiting for closure of Vodafone and Idea mobile tower sale transaction with American Tower Corporation.
The infrastructure financing firm, along with other shareholders, had entered into a definitive agreement with ATC on October 21, 2015 for selling its stake in Viom.
With this acquisition, ATC will own 57,000 towers in the country, the company said in a statement. ATC globally has a portfolio of over 1,42,000 telecom masts.
Under the agreement, ATC may acquire up to approximately 100 additional sites currently in development for an additional consideration, Airtel said in a BSE filing, without disclosing the financial details of the transaction
Airtel had in July sold 3,100 telecom towers in four African countries to Helios Towers Africa for an undisclosed sum. The company now has around 14,500 towers left in Africa.