GTL Infra, RCom to create infrastructure company
GTL Infrastructure Ltd. has, in-principle, approved a Rs. 50,000 crore transaction to create the world’s largest independent telecom infrastructure company. This company will not be owned or controlled by any telecom operator and the deal will be implemented through a merger of Reliance Infratel Limited tower assets into GTL Infra.
Together with the recent purchase of tower business of Aircel, the proposed merger of Reliance Infratel’s tower business will create scale and opportunities to improve tenancy for GTL Infra.
Upon closure of the transaction, the merged entity will have over 80,000 towers and over 1,25,000 tenancies from over 10 telecom operators such as Reliance Communications, Aircel, Etisalat DB Telecom, Idea, Vodafone , Bharti Airtel, MTS, Uninor Telecom, Videocon Mobile, Tata Teleservices and STel. In addition, the merged entity will have a firm option of additional 75,000 tenancies from leading players.
The proposed transaction is subject to receipt of all necessary approvals, customary due diligence, definitive documentation, etc. It is anticipated that the transaction will achieve final closing over the next 6 months.
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