Tata Tele sells tower business to Quippo-Wireless (India)

www.WirelessFederation.com/news: Tower business of Indian operator Tata Teleservices (Maharashtra) has been sold by the company along with 2,535 towers in Mumbai, Maharashtra and Goa, to Quippo-Wireless TT Info Services.

21st Century Infra Tele, wholly-owned subsidiary of Tata, for INR 5.2 million per tower or INR 13.18 billion. A net cash flow of over INR 9 billion will be the result of the transaction.

Quippo-Wireless TT Info Services’ tower portfolio will be complemented by Tata’s telecommunications towers. Quippo-Wireless does not have a significant presence currently in Mumbai, Maharashtra and Goa. It will also bring the company’s total number of towers to 38,000 nationally.