The Department of Telecom (DoT) on Thursday cleared the sale of standalone mobile towers of Idea Cellular for ₹4,000 crore to the Indian arm of American Tower Corporation (ATC), according to official sources.
“Idea-ATC deal has been cleared,” an official source told PTI. ATC Telecom Infrastructure had signed pact with Vodafone India and Idea in November 2017 to buy their standalone towers for ₹7,850 crore.
The standalone tower businesses of Vodafone and Idea have a combined portfolio of almost 20,000 towers. ATC has already completed acquisition of Vodafone India’s mobile towers for ₹3,850 crore adding almost 10,200 towers to its portfolio.
