The two sides have entered into a 60-day exclusivity agreement for bilateral negotiations that could end in ATC selling a minimum of 51% in its India unit, ATC Telecom Infrastructure Pvt Ltd (ATC-TIPL), to cashing out entirely at an enterprise value of around $1.5-2.0 billion, the people said. I Squared has been competing with Canadas Brookfield and US infrastructure fund Stonepeak Partners for the stake.
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These efforts are also aligned with Oman Vision 2040, which aims to create a bright future for renewable and sustainable energy to achieve Net-Zero emissions by 2050.