I Squared Capital is set to acquire a majority stake in the Indian unit of the American Tower Corporation (ATC). Currently, it is finalising the terms to acquire around 65 per cent at a value of $1.5 billion-$1.75 billion. ATC will retain the remaining stake. Previously, I Squared Capital was competing with Brookfield and Stonepeak Partners for the stake but their interest waned after initial rounds of negotiations.
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