American Tower Corporation announced that it would acquire a 51 percent controlling interest in telecom infrastructure firm Viom Networks for a cash consideration of $ 1.4 billion, (Rs 7,600 crore) reports The Telegraph. ATC has further said that it may acquire all or another portion of the remaining 49 per cent from Viom’s stakeholders Srei Infrastructure and Tata Teleservices. ATC’s existing 14,000 towers will now be merged with Viom’s establishing ATC as a strong player among independent telecom tower infrastructure players in India.
“With a population of nearly 1.3 billion people, rapidly growing smartphone penetration and limited fixed line infrastructure, India’s vibrant wireless industry is poised for a sustained period of network investment,” said James D. Taiclet, Jr, ATC’s chairman, president and CEO.
