Deal Snapshot
VODAFONE GROUP IDEA CELLULAR TO SELL INDIA STANDALONE TOWERS BUSINESSES IN INR 78.5BN DEAL
Tuesday 14 November 2017

UK-based telecommunications company Vodafone Group Plc's (LON: VOD) (NASDAQ: VOD) Vodafone India unit and India-based Idea Cellular (NSE: IDEA) have separately agreed to sell their respective standalone tower businesses in India to Indian telecommunications infrastructure firm ATC Telecom Infrastructure Private Ltd. business for an aggregate enterprise value of INR 78.5bn (USD 1.2bn), the companies said.
The standalone tower businesses of Vodafone India and Idea are pan-Indian passive telecommunication infrastructure businesses, comprising a combined portfolio of approximately 20,000 towers with a combined tenancy ratio of 1.65x as at 30 June 2017.


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Details
Date Published: 14/11/2017
Target: Standalone tower businesses of Vodafone India and Idea
Country: India
Deal Size: 1.2bn (USD)
Sector: Telecommunications
Type: Divestment
Financing: Cash
Status: Agreed
Vendor: Vodafone India, Idea Cellular
Buyer: ATC Telecom Infrastructure
Comment:
Terms of the deal were not disclosed

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