Vodafone India, Vodafone Mobile Services and Idea Cellular have announced their proposal separately to sell their standalone telecom tower businesses to ATC Telecom Infrastructure, a majority-owned subsidiary of American Tower Corporation for about INR 7,850 crores ($1.2 billion), as reported by Mint. The transaction is subject to customary closing conditions and receipt of necessary regulatory approvals.

S&R Associates acted for Vodafone India and Vodafone Mobile Servies, represented by Mumbai-based partner Rajat Sethi, partner Radhika Iyer along with associates Jagriti Mohata, Dhruv Nath, Raya Hazarika, Meher Mehta and Sushmita Sur.

AZB & Partners advised and acted for ATC Telecom Infrastructure in the deal and was led by partners Gautam Saha, Amrita Patnaik, Heena Singh along with tax partner Ravi Prakash.

Update 28 November 2017: Bharucha & Partners advised Idea Cellular Limited, led by partner Alka Bharucha, senior associates Ayesha Bharucha and Swathi Girimaji, and associates Amrita Vyas and Aishwarya Gupta.

It was also reported that if the telecom towers sale to ATC precedes the completion of the proposed Idea-Vodafone merger, then Vodafone India will get $592 million and Idea $615 million.

2017-11-13