CDPQ eyes strategic stakes in ATC Telecom Infrastructure

Caisse de dépôt et Placement du Québec (CDPQ), the Canadian pension fund, is in talks with the American Tower Corporation (ATC) to buy a 50 per cent stake in its Indian unit, ATC Telecom Infrastructure Private Limited, as it has sought to reduce its exposure in the country in response to mo­unting business concerns. Previously, KKR had submitted non-binding bids. The India arm is estimated to be worth between $1.5 billion and $2 billion. Depending on the final evaluation, the 50 per cent stake would be worth between $750 million and $1 billion.