ATC considers selling its Indian tower business

American Tower Corporation (ATC) has decided to sell a majority stake in its wholly-owned Indian unit, or even offer up to 100 per cent ownership and exit the country, after its recent attempts to sell a 50 per cent stake failed to attract any interested parties. In addition, ATC has re-engaged with Brookfield, which is contemplating a full buyout. Reportedly, ATC is pursuing a valuation of over $4 billion for its Indian unit, however, the suitors are hesitant to pay any control premium and are negotiating for a valuation between $2.80 billion and $3.00 billion.