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Idea Cellular completes sale of standalone tower business to ATC

01 Jun 2018 Evaluate

Idea Cellular has completed sale of its pan-India standalone tower business, by way of divesting its entire stake in Idea Cellular Infrastructure Services (ICISL) (100% subsidiary of Idea), to ATC Telecom Infrastructure (ATC). The transaction has been closed with an enterprise value of Rs 4,000 crore for approximately 9,900 standalone towers.

Idea Cellular is an AV Birla group company and provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level.

Peers
Company Name CMP
Bharti Airtel 1837.00
Vodafone Idea 14.29
Indus Towers 375.55
Tata Communications 1798.65
Railtel Corp. India 252.55
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