American Tower Company is adopting the inorganic route to increase its presence in the Indian market and it is doing it very aggressively as the company is set to acquire Essar Group’s, Essar Telecom Infrastructure Pvt. Ltd, for close to $ 450 million.
The new acquisition will add 4,500 more towers to ATC’s India count which currently has about 2,500 towers.
The deal values each tower of Essar arm at Rs.50 lakhs which is almost similar to what GTL had offered to Aircel while acquiring the operator’s telecom arm recently.
ATC had last year recorded its first acquisition in India by buying out Xcel Telecom for Rs 800 crore followed by acquisition of Transcent Infrastructure for Rs 95 crore.