US-based hedge fund DB Zwirn is close to picking up 18 to 22 percent stake in Quipo Infrastructure’s subsidiary, Quipo Telecom Infrastructure Limited (QTIL), for over $40 million.

US-based hedge fund DB Zwirn is close to picking up 18 to 22 percent stake in Quipo Infrastructure’s subsidiary, Quipo Telecom Infrastructure Limited (QTIL), for over $40 million. QTIL, which currently has around 1,500 towers, has set a target of 6,000 towers by March 2008. Meanwhile, the company is planning to invest $2.5 billion to set up 30,000 towers by 2010.