Brookfield-led consortium completes the acquisition of American Tower Corporation’s Indian business (India)

The Data Infrastructure Trust (DIT), along with affiliates of investors including the British Columbia Investment Management Corporation and GIC, have completed the acquisition of 100 per cent of American Tower’s operations in India. This transaction, approved by the Competition Commission of India, comprises the buyout of approximately 76,000 communications sites in India for an enterprise value of Rs 182 billion (approximately $2.2 billion). DIT currently houses Summit Digitel and Crest Digitel, and is managed by its investment manager, Data Link, an affiliate of Brookfield. With this acquisition, Summit Digitel, Crest Digitel and ATC India will merge under the new brand name, Altius.

Kumar Mangalam Birla raises stake in Vi by purchasing 18.6 million shares

Kumar Mangalam Birla, chairman, Aditya Birla Group (ABG), has increased his personal stake in Vodafone Idea Limited (Vi) by purchasing 18.6 million shares. Earlier, Birla’s investment vehicle, Pilani Investment and Industries Corporation, had acquired 3 million shares, raising its stake by 0.02 per cent. Before these transactions, ABG held a 15 per cent stake in Vi, while the UK’s Vodafone Group PLC held 23.3 per cent.

KKR, Stonepeak and Macquarie pursue investment in Ascend Telecom

KKR & Co., Stonepeak Partners and Macquarie Capital are reportedly engaging with merchant bankers regarding a possible investment in Ascend Telecom Infrastructure Private Limited. These investment firms are keen to start discussions with Ascend, a company entirely owned by Global Infrastructure Partners based in the US. Ascend Telecom caters to significant clients such as Bharti Airtel, Vodafone Idea Limited, Reliance Jio and BSNL.

Dialog Axiata completes its merger with Bharti Airtel Lanka (SriLanka)

Dialog Axiata has completed its merger with Bharti Airtel Lanka, with Dialog being the surviving entity. According to Dialog, this marks the official cessation of Airtel Lanka as a corporate entity, effective August 30, 2024, with its operational performance fully absorbed and consolidated within Dialog’s financial statements. This merger enhances its market position, increasing its subscriber base to over 20 million.

PhilTower and MIDC form independent tower company in the Philippines (Philippines)

Phil-Tower Consortium, Inc. (PhilTower) and the Miescor Infrastructure Development Corporation (MIDC) have finalised a transaction, creating one of the largest independent telecommunications tower companies in the Philippines. Backed by global and local investors, including Macquarie Capital, Stonepeak, Manila Electric Company and Global Network, the new entity will manage over 3,300 towers, with 2,100 more in the pipeline. Macquarie Capital, a shareholder in PhilTower since 2021, fully supported PhilTower’s acquisition of 1,350 towers from Globe Telecom. The deal has received approval from the Philippine Competition Commission and the Securities and Exchange Commission, ensuring a smooth transition.

Ooredoo Group secures $549 million financing deal for AI data centre plan (Qatar)

Qatar-based Ooredoo Group has secured a QAR 2 billion ($549.4 million) financing deal to accelerate its data centre business and strengthen its artificial intelligence (AI) infrastructure in the Middle East and North Africa (MENA) region. Ooredoo plans to use the funds to expand its carrier-neutral data centre business, Mena Digital Hub, and enhance AI, cloud services and hyperconnectivity infrastructure. The group also aims to increase data centre capacity to over 120 MW and has recently partnered with NVIDIA to develop an AI-ready platform for the region.

AfDB invests over EUR 9 million in digitising the Comorian economy (Comoros)

The African Development Bank (AfDB) has approved Euro 9.51 million ($10.51 million) in grants to support the digitisation of the Comorian economy. This will enhance the governance, affordability and accessibility of public services. Key initiatives include building a digital administration through new and existing data centres, with a private operator managing their operation and expansion. The project also aims to develop e-services, a digital payment system and a data exchange platform. Additionally, it will establish a national authority for data protection and support digital training at the University of Comoros, fostering digital innovation.

South Sudan obtains $20 million to solarise its telecommunications towers (Sudan)

The Energy Inclusion Facility (EIF) and the Finnish Industrial Cooperation Fund (Finnfund) are providing $20 million in financing to Communication and Renewable Energy Infrastructure (CREI) to support the solarisation of telecommunications infrastructure in South Sudan. This funding consists of a $15 million bridge loan from EIF, part of the ADB, and a $5 million mezzanine loan from Finnfund.

The financing will enable CREI to install at least 413 hybrid energy solutions at telecom sites throughout South Sudan, significantly increasing solar energy production while reducing diesel dependency