American Towers Corporation is set to buy a majority stake in Viom Networks with largest stakeholder Tata Teleservices selling part of its stake and SREI Infrastructure completely exiting the venture.
"The deal will be announced today. SREI Infrastructure Finance has decided to exit and Tata Teleservices will be also selling significant part of its equity in Viom to ATC," the source said.
The source indicated that the total deal is going to be close to Rs 19,000 crore.
Viom was formed in 2009 after merging of mobile towers of Tata Teleservices and Quippo Telecom -- a unit under SREI Group. It has over 42,000 sites.
Tata Teleservices holds 54 per cent stake in Viom, SREI 18.5 per cent and rest is held equity partners -- IDFC Private Equity, GIC-Singapore, Oman Investment Fund, SBI Infrastructure Fund and others.
