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India's Tata-Quippo in talks to buy Aircel towers-report
MUMBAI |
MUMBAI Oct 20 (Reuters) - Indian tower operator Tata-Quippo, is in talks with New York-based private equity firm Apollo Management to finance the acquisition of mobile services operator Aircel's tower assets, the Economic Times said on Tuesday.
Tata Quippo had emerged as the front-runner for the acquisition of Aircel's 12,000 towers valued between $1.2 billion to $1.5 billion, the report said.
"We are in discussions with a few global private equity players. We will zero in on a PE partner if we win the bid," the paper quoted Tata-Quippo director Sunil Kanoria as saying.
Aircel Chief Operating Officer Gurdeep Singh refused to comment while Apollo could not be reached for comments, the paper said.
Malaysia's Maxis Communications, which owns 74 percent of Aircel, has appointed Standard Chartered (STAN.L), Nomura (8604.T) and Rothschild [ROT.UL] as advisors to sell the tower assets of its Indian arm, the report said. (Reporting by Janaki Krishnan; Editing by Jarshad Kakkrakandy)
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