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.
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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
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