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Telecom tower operator American Tower to sell India operations to Brookfield for $2.5-billion

The transaction is subject to regulatory approvals and expected to close in the second half of 2024.

The deal which marks the asset manager’s third acquisition in the telecommunication space is expected to give Brookfield access to ATC India’s vast portfolio of about 78,000 sites across the country.

The deal, one of India's largest-ever telecom infrastructure deals, will be Brookfield's third such acquisition in its four years in the country and marks American Tower's exit after 16 years. American Tower has been considering selling its India operations for nearly a year due to the inability of its top client Vodafone Idea to clear dues and recently took a roughly $322 million writedown on the value of the business.

Canada-based Brookfield will acquire the Indian business of American Tower Corporation (ATC) for an enterprise value of $2 billion, a release said on Friday. The transaction is subject to regulatory approvals and expected to close in the second half of 2024. 'Data Infrastructure Trust (DIT), an Infrastructure Investment Trust sponsored by an affiliate of Brookfield Asset Management, today announced the signing of an agreement with ATC to acquire 100 per cent of equity interests in American Tower's operations in India (ATC India), for an enterprise value of Rs 16,500 crore ($2 billion) which is...