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American Tower Corpn acquires stake in ATC Telecom Infrastructure

Thursday, 25 Apr 2019
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American Tower Corporation has acquired Tata Teleservices’ near 13 percent residual stake in ATC Telecom Infrastructure for roughly Rs 2,500 crore in an all-cash deal.

The deal at roughly Rs 212 per share marks the exit of Tata Group from the consumer mobility and related businesses.

The group is in the final stages of selling Tata Teleservices’ consumer mobility business to Bharti Airtel.

With this, the American Tower Corporation now owns nearly 90 percent in ATC Telecom Infrastructure.

 
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