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Brookfield now top tower firm with $2.5 bn ATC deal
Mint Mumbai
|January 06, 2024
Brookfield Asset Management will buy American Tower Corp's (ATC) lossmaking Indian operations for $2.5 billion, becoming the country's largest operator of telecom towers amid booming demand for data and wider use of 5G services.
The acquisition is the biggest of Brookfield's three telecom-related deals in the roughly four years the Canadian company has been present in India, the world's second-largest market by number of users.
ATC, on the other hand, will exit India after nearly 17 years.
Its fortunes have floundered due to the struggles of top client Vodafone Idea and it recently wrote down the value of the business by $322 million.
Denne historien er fra January 06, 2024-utgaven av Mint Mumbai.
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FLERE HISTORIER FRA Mint Mumbai
Mint Mumbai
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