ATC Telecom Infrastructure, a majority-owned subsidiary of American Tower Corporation, hopes to complete its purchase of the standalone tower business of Vodafone India and Idea Cellular during the first half of 2018. The total value of the separate transactions is ₹77 billion (US$1.2 billion).
The transaction follows the announcement in March of the merger between Vodafone India and Idea, where the parties pledged to sell their tower businesses to strengthen the balance sheet of their combined entity.
If the tower business divestments are completed before the Vodafone-Idea merger, Vodafone India will receive US$592 million and Idea will receive US$621 million.
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