GTL Infrastructure Limited and Viom Networks Limited have put in preliminary bids to buy Vodafone Essar Limited?s 7,000 telecom towers, according to news reports. GTL Infrastructure has appointed Standard Chartered Bank as an adviser in this regard, while Viom is being advised by Barclays Capital.
Vodafone Essar had been looking to sell its towers in seven telecom areas that overlap with towers it co-owns in Indus Towers Limited, along with Bharti airtel and Idea Cellular Limited. Vodafone Essar had sought a preliminary interest to discover a value for these 7,000 towers.
Vodafone Essar is also looking at hiving off its tower business valued at around Rs 35 billion. It is believed that GTL will raise money through a consortium of Indian and foreign banks to finance the deal.
