Tata Teleservices is in talks to sell its entire stake in mobile tower company Viom Networks to American Tower Corporation for about 4000 crore. Tata Teleservices is in advanced stages of finalizing a deal with American Tower Corporation (ATC) to exit Viom Networks. The deal is pegged at around 4000 crore.
Tata Teleservices' stake in Viom Networks came down to 26 percent after ATC acquired the majority stake in the company and merged its existing Indian business. ATC had bought 51 percent stake in Viom, which owns and operates over 42,000 towers, from Tata Teleservices Ltd. and SREI Infrastructure Finance for 7635 crore.
Tata Teleservices at that time owned 54 percent of Viom, with Kolkata-based SREI Group of Kanoria family holding about 18 percent with management control.
Singapore state investor GIC, Macquarie SBI Infrastructure Fund, Oman Investment Fund, and India's IDFC Private Equity are other investors in the company.