TTML sells off tower business to QuippoWireless TT Info Services Tata Teleservices (Maharashtra) Limited (TTML) has sold its tower business to Quippo-Wireless TT Info Services, a joint venture between Tata Teleservices Limited and Quippo Telecom Infrastructure, at an enterprise value of Rs 13.18 billion. TTML will receive about Rs 9 billion from the transaction. The deal includes 2,535 of TTML’s towers in the Mumbai, Maharashtra and Goa circles, which are currently being run by its subsidiary, 21st Century Infra Tele. TTML will now focus on its core business areas of voice and data. The company is planning to use the proceeds from this sale to repay a part of its short-term debt, besides funding its GSM expansion and 3G bidding plans. Meanwhile, the deal will take Quippo Wireless TT Info Services’ portfolio to more than 38,000 towers at a tenancy ratio of over two.
?
