GTL Infra acquires Aircel tower business of Rs 8,400 cr
GTL Infr
astructure, a provider of passive telecom infrastructure, has announced the acquisition of Aircel Cellular’s tower business in a
Rs 8,400-crore all-cash deal. The transaction will see Aircel spinning off its tower business with 17,500 towers into a special purpose vehicle (SPV), which will be acquired by GIL. The deal, which is expected to be completed by May, will make GTL the world’s largest tower company, replacing American Tower Corporation.
