Brookfield Asset Management is to acquire American Tower Corp’s (ATC) loss-making Indian operations for $2.5bn, becoming one of the country’s largest operator of telecom towers in the process, according to a report by Reuters.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Brookfield’s ‘anchor’ client in India will be Reliance Industries’ Jio, which competes with Vodafone Idea and Bharti Airtel in the Indian telecoms market, the world’s second-largest by number of subscribers.
Airtel is the anchor client of Indus Towers, the current market leader with roughly 193,000 towers. Brookfield, meanwhile has around 157,000 towers and ATC operates some 77,000 towers.
Source: Private Equity Wire
Can’t stop reading? Read more
Fund Friday: Top fundraising news in private equity
Fund Friday: Top fundraising news in private equity Aquilius Investment Partners, a...
KKR powers past $723bn AUM on record fundraising and historic investment pace
KKR powers past $723bn AUM on record fundraising and historic investment pace KKR & Co. posted...
Ardian to acquire 90% stake in Centrotherm, boosting European semiconductor portfolio
Ardian to acquire 90% stake in Centrotherm, boosting European semiconductor portfolio Ardian has...