17,500 Aircel Tower Buying completed by GTL Infrastructure
July 20, 2010
GTL Infrastructure has recently stated that they are done with the work of acquiring 17,500 towers from Aircel for an amount of Rs.8026 crore. In the January this year, it was agreed by GTL that they will buy the towers of telecom operator Aircel with its 21,000 tenants for an amount of Rs.8400 crore but later on the price was reduced after the diligence process of the assets of the towers were performed.
This acquisition will make the GTL Infra to become the largest neutral and independent tower company in the world with 32,500 towers in 23 of the telecom circles. This deal will also help GTL to get additional revenue of Rs.720 crore with increase of 3% every year for the next 15 years. The deal will also help to increase the Average Revenue Per User in the class A cities and metros and will enable them to attract the 2G and 3G BWA operators. GTL infrastructure is a part of the Manoj Tirodkar- owned Global group and is the only tower company in the country which is not owned by a telecom operator.
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