TTSL & Quippo join hands for passive infrastructure business (India)
Tata Teleservices (TTSL) and Quippo Telecom are in a joint venture for passive infrastructure business, following to which the combined entity will become the largest independently managed tower company in the country with a valuation of Rs 13,000 crore. As per the terms of the partnership, Tata Teleservices and Quippo Telecom will swap 51% and 49 % stake, respectively. This merger has led to shift in the management rights of its tower arm to Quippo’s independent management.
According to the company, Quippo Telecom would make up front cash payment of Rs 2,400 crore and would also transfer its passive telecom tower portfolio of 5,000 towers to WTTIL. In total there will be 18,000 towers as a combined entity.
