GTL Infrastructure has reached a definitive agreement to purchase the telecom tower business of Aircel and its subsidiaries (Aircel) in an all cash deal valued at an enterprise value of Rs 8400 crore. This transaction will make GTL Infra the world`s largest independent tower company with a portfolio of more than 32,500 towers across all 23 telecom circles after the completion of the deal. This creates a partnership between Aircel, one of the leading telecom operators and GTL Infra, the leading telecom infrastructure company.
The company has structured the transaction through a SPV to purchase Aircels 17,500 existing towers, that comprise 21,000 tenancies (i.e. a tenancy ratio of 1.20x). In addition to the existing towers, Aircel will also commit 20,000 towers over a 3 year period. On completion of this roll-out, GTL Infra is expected to have a portfolio of more than S0,000 towers across India.
Aircel is the fifth largest GSM mobile service provider and the fastest growing telecom operator in India with over 31 million subscribers. Aircel is promoted by Maxis Communications Berhad, which has a telecom presence in Malaysia, Indonesia and India and the Apollo Hospitals Group, a premiere healthcare provider in India.
Source :www.biginfotech.in
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