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DoT clears sale of Idea Cellular’s 9,000 towers to ATC

May 25, 2018

The Department of Telecommunications (DoT) has cleared Idea Cellular’s sale of approximately 9,000 towers to a local arm of American Tower Corporation (ATC) for Rs 40 billion.

With this, ATC has completed the two-stage buyout of Vodafone India’s and Idea Cellular’s around 20,000 towers for a total consideration of Rs 78.50 billion. Earlier last month, the government had cleared Vodafone India’s sale of its 10,926 captive towers to ATC for Rs 38.50 billion.

Vodafone India and Idea have also said that on conclusion of their merger, some 6,300 tenancies of both carriers co-located on the towers being sold to ATC would get converted into single tenancies over two years without the payment of exit penalties.

Idea Cellular and Vodafone India are merging to form the country’s biggest operator by revenue and subscribers. Idea Cellular is learnt to have sought final DoT approval for its merger with Vodafone India. The merger is expected to be finalised soon.

 
 

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