GTL Infra eyes a strategic merger with Viom Networks

GTL Infrastructure anticipates a strategic alliance with the Viom Networks on the news that later is in preliminary discussions with bankers for exploring a strategic merger with the company.

The promoters hold 58.3% in GTL Infrastructure. Viom is 53% controlled by the Tatas. Kolkata-based Kanorias, founders of Srei, hold about 27% while foreign institutional investors own 20%.

Recently, Telecom equipments manufacturer GTL Infrastructure has received shareholders approval for amalgamation of Chennai Network Infrastructure (CNIL) with itself. Last year in December, GTL Infrastructure had received its board’s approval for amalgamation of Chennai Network Infrastructure (CNIL), an SPV formed for acquisition of Aircel’s tower assets, with itself through a scheme of arrangement.

GTL Infrastructure, a part of the Global group, is registered with the Department of Telecommunications (DoT) as an Infrastructure Provider in Category I (IP-I). The company builds, owns, operates and maintains passive network infrastructure on a shared basis in order to cater to the rapidly growing infrastructure needs of cellular telecom operators.