American Tower Corporation (ATC) which earlier in the year acquired XCEL Telecom is set to acquire majority stake in another company, this time Essar Group’s Essar Telecom Infrastructure Private limited (ETIPL) which has close to 4,000 towers for a deal valued at $ 400 million, reports the Economic Times citing its source.

The deal is now in legal documentation process and the deal maybe announced next month, says the report.

Barclays Capital is serving as financial advisor to Essar for the deal.