Join International Contest: Submit photographs/ video/ cartoons/ songs/ dance/ own creativity on Dussehra at email@example.com , The best participants will get their submissions broadcasted on USA NEWS CORP
Dr. Naeem Ahmad mark the start of new Era in Dentistry with Pierre Fauchard Research Award-2015 in Dentistry
22 October, Russia, USA NEWS CORP
American Tower Corporation (ATC) will buy a 51% stake in mobile phone tower operator Viom Networks for Rs 7,635 crore, or $1.17 billion, in the biggest telecom deal this fiscal. Wireless technology connects people, devices and networks throughout the world. The Boston based company will combine its local portfolio of 14,000 towers with Viom's estate of 42,200. This will make it the No. 2 player in the world's second largest wireless market after Indus Towers, which has more than 1 lakh mobile phone base stations.
The Journal of Journalism & Mass Communication confirmed the reports.
The deal will bring down the stake of Tata Teleservices, which is Viom's majority owner, from the current 54% to 32%. SREI Infrastructure Finance, the second largest shareholder of Viom, will completely exit the company , getting Rs 2,952 crore from the sale of its 18%. Srei's promoters, the Kanorias, have signed a non-compete agreement with the US company in the Indian mobile tower market. Some of the other Viom investors, such as IDFC Private Equity , will also sell part of their interest to American Tower.
The agreement between American Tower and the sha reholders of Viom allows the foreign company to buy part or full of the remaining 49% stake in the Indian company Besides Tata Teleservices and IDFC Private Equity , the other investors in Viom are Singa pore's sovereign wealth fund GIC, Oman Investment Fund and Macquarie SBI. Viom ca me into existence in 2009 with the merger of SREI and Tata Teleservices' mobile tower businesses.
Viom, which is in the midst of setting up another 1,000 mobile phone base stations, ge nerated rental and manage ment revenue of Rs 5,000 crore and gross profit of Rs 1,854 crore for the quarter ended June 30. It had debt of Rs 5,812 crore as on September 30, a statement from SREI said.
“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, CEO, American Tower. SREI has stated that the substantial cash flow from the transaction will help lower its debt and reduce interest, thereby improving profitability. The deal will also help the loss-making Tata Teleservices pare its Rs 34,000-crore debt and buy its Japanese partner NTT DoCoMo's 26.5% stake in the company .Currently , the two are locked in a court battle in London over valuation differences as DoCoMo has sought a higher exit price.
You can share above News URL on Facebook or your Social Media Site/ blog. How to share this news: Just copy and paste the Website address/ URL of this page on your Facebook page, and click "enter". Do you know you can also sell/ share your patent, Books, Thesis, Articles at USA NEW SCORP, Just Submit at: firstname.lastname@example.org If you have a news you can Submit your News in Comment box> Join us as Journalist > News Content purchase > Corrections > Copyright > Place a Classified Ad > Sell Your Home > Sell Your Business > Commercial Real Estate Ads > Advertise with us > Recruitment & Career Ads > Franchising > Advertise Locally > Contact us > email@example.com
Air India festive offers free return tickets
‘Muslims, please leave my rally, for we don’t want your votes’: BJP
Agarkar Dares Dhoni's Place In India Team
Movies Review: Jazbaa
Ecosystem: Delhi zoo returns jaguar from Kerala that is ‘too fat to breed’
Priyanka Chopra makes controversy on ABC Show Quantico
Volkswagen scandal strikes 94,400 vehicles in Portugal, France and Italy
Amazon stops the sale of Apple and Google Chromecast
Moon Jae-in accused President Park Geun-hye in South Korea
Russia storms USA through Syria: Iraq welcomes
Thai government websites under attack by internet protesters
Shhh... Shahid Kapoor's Facebook Account Hacked or Movie Promotion
Hajj accidents Demand Disaster Management. Are we ready?
Instagram upsets Johor Princess, quits
Saudi Arabia chopped off Indian maid's hand
PM Narendra Modi Gets Emotional
Randy Quaid From Hollywood & Wife Arrested In Vermont, Canada
Nicole Kidman's life is hard after Tom Cruise split
U.K. bans Proctor & Gamble's hair dye ad for misleading viewers, Company disappointed
Pippa Middleton and Nico Jackson split after Kate Middleton’s sister Found with ex-boyfriends
Amazing Professora “tira a roupa” para ensinar biologia em escola na Holanda
Horror Cobra que aterrorizava a Flórida é capturada
Asia Stocks Near 2-Month Highs On Hopeful China Data
Chocante Turista filma queda de quatro pessoas após ponte se romper na Nova Zelândia
Violence On Board: Southwest Airlines Flight Turns Back To LAX
Prince George bear attack leaves hunter Safe in hospital
Rise Of North Korea v/s Russia