Tata-Quippo, the telecom tower venture between TTSL and the Srei Group, is planning to rope in two private equity (PE) players to finance the acquisition of Aircel’s tower assets if it wins the bid.

Tata-Quippo, the telecom tower venture between TTSL and the Srei Group, is planning to rope in two private equity (PE) players to finance the acquisition of Aircel’s tower assets if it wins the bid.

The tower company has reportedly finalised New York-based PE fund Apollo Management as one of the two partners. The tower deal is expected to be worth $1.2-$1.5 billion with $700 million$1.2 billion coming from the PE players. The PE firms are likely to hold about one-third stake in the proposed merged entity of TataQuippo and Aircel’s tower business.