Quippo buys 49 percent in Tata Teleservices subsidiaryJanuary 5th, 2009 - 1:32 pm ICT by IANS
New Delhi, Jan 5 (IANS) Quippo Telecom Infrastructure Ltd (QTIL) has picked up a 49 percent stake in Wireless Tata Telecom Infrastructure (WTTL), Tata Teleservices’ tower arm, a company official said Monday. Despite a minority stake, Kolkata-based QTIL will have management control in the firm, the official said on condition of anonymity.
This is to ensure that the company functions as an independent tower company with non-discriminatory infrastructure access to all mobile service providers, he said. The firm puts up and maintains telecom towers essential for mobile telephony.
The deal will involve Quippo transferring all its 5,500 towers as well as other telecom assets to WTTL and also make an investment to acquire 49 percent stake in the company.
After the deal, WTTL will have an estimated 20,000 telecom towers and will emerge as one of the strong players in the infrastructure domain.