ATC completes tower acquisition deal with Vodafone India

The American Tower Corporation (ATC) has completed the acquisition of telecom towers held by Vodafone India for Rs 38 billion. This will consolidate ATC’s position as the country’s second largest telecom tower company. In November 2017, ATC had announced its intention to acquire the towers assets of Vodafone India and Idea Cellular. Earlier, Vodafone India and Idea Cellular announced plans to merge their mobile operations to create the largest operator in the country. However, the tower acquisition agreement with Idea Cellular will be announced separately later.