American Tower Corporation To Close Its Operations In India

This is to inform you that American Towers Corporation, a US-based telecom tower giant company, is planning to sell loss-incurring India operations. Yes, you heard it right, ATC is likely to sell its loss-making India Ops at an enterprise valuation of nearly $2.2 billion by the end of this year. Since this news broke out in the market, people have set their keen eye on the potential buyers of American Towers Corporation’s India operations. Reportedly a US-based infrastructure private firm is close to buying the telecom tower company, a source familiar with the development said. In case, you are scrambling to the web regarding the same headline, the following sections are waiting for you. Stick with this page and go through this article till the end. Swipe down the page.

American Tower Corporation

As mentioned above another US-based firm is planning to acquire ATC’s India operations at an enterprise valuation of nearly $2.2 billion, the US-based infrastructure private equity firm is I Squared Capital which is currently leading the race to acquire the telecom tower company. For the unversed, American Towers Corporation has seen a continuous loss of valuation in the past years. However, I Squared Capital was asked for comments on this development but it declined to comment at this moment. Swipe down the page.

Company officials said at the third quarter results conference that in the quarter that ended in September, American Tiwer Corporations recorded $322 million in goodwill impairment charges associated with its India business. The book value of the Indian operations following the impairment is around $2.2 billion based on its internal impairment review analysis, cost of capital, and discounted cash flow. Rod Smith who is the executive vice president, chief financial officer, and treasurer of American Tower Corporations, said in a call with analysts, “We are making significant progress on the strategic review of our India business. As we are in the final stages of this process, we remain committed to communicating the outcome to our shareholders before the end of the year, consistent with our past messaging,”

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In India, ATC India is the 3rd-largest independent telecom tower company in terms of the number of tenants and towers. It has a significant presence in all the telecom circles. ATC has bought several towers to increase its footprints in India along with its market share. The portfolio of ATC India has expanded to more than 77,000 sites and has cornered a telecom tower market share of around 17 percent.

Amzad Khan
Amzad Khan

Hey there, guys. I am Amzad Khan. I enjoy writing on topics related to my interests in gaming and technology. My work has attracted a dedicated fan base thanks to the fresh and unexpected angle I bring to each piece.