Ascend Telecom has merged with India Telecom Infra Limited (ITIL) to create an entity with 4,000 towers spread across the country, according to news reports.
According to a release issued by private equity firm New Silk Route, which owns Ascend Telecom, “The merger will create one of India’s strongest independent telecom tower operators with a nationwide footprint, approximately 4,000 towers and an average tenancy ratio of 1.6x. The companies will soon be proceeding to file a scheme of amalgamation with the High Courts of Andhra Pradesh and Tamil Nadu to merge ITIL into Ascend.?
