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India's Quippo in Talks to Buy Bangladesh Tower Assets
Published on:
Indian tower management company, Quippo is reported to have made an offer to buy the tower assets owned by Bangladesh based mobile network, Banglalink.
Citing two people familiar with the discussions, the Economic Times reported that Quippo is offering nearly Rs 3,000-crore (US$537 million) for the 5,200 towers.
The deal is reportedly being structured so that Viom Networks -- a joint venture between Quippo and Tata Teleservices -- will also take on the tower management once the sale is completed.
Viom Networks currently has over 40,000 towers in India, and around 96,000 tenancies.
The company is also said to be in talks with various companies in Africa and across Asia to secure tower assets as part of its long-standing plans to expand overseas.
Plans for an IPO on the stock market were cancelled last year, reportedly by Tata. Viom is managed by SREI group, but the Tata group holds 54% of the equity. The two shareholders have been in dispute ever since an auditors report found allegations of misconduct and cash pilferage from Viom.
On the web: Economic Times
Tags: [banglalink] [viom networks] [Bangladesh]
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