Brookfield has become the biggest telecom tower company after a massive Rs 16500 crore deal.
Mukesh Ambani owned Reliance Jio is one of the biggest and fastest growing telecom operators in the country. Mukesh Ambani revolutionised the sector with a launch of affordable consumer centric data plans and devices. To offer connectivity to millions of users across the country, Mukesh Ambani’s Jio’s trusted Canadian multinational company Brookfield. For those who are unaware, Brookfield is a telecom tower operator with clients all across the globe. Now Brookfield has become the biggest telecom tower company after a massive Rs 16500 crore deal. Brookfield has announced that it is acquiring 100% equity interests in the India business of US-based American Tower Corporation (ATC). The deal has been signed and the transaction is subject to regulatory approvals.
Until now, Indus was the largest telecom tower company in India with over 200000 towers but after the massive deal with ATC India, Brookfield has around 253000 towers in the country now. ATC India is leaving India after 17 years after its top client Vodafone Idea struggles to control the losses. While struggling both operationally and financially, Vodafone Idea has lost its key partner.
As per a report by Reuters, an analyst at Ambit Capital Research believes that “Brookfield, whose so-called anchor client is Reliance Industries' Jio, will be in a better position to manage the challenge that ATC had with high exposure to Vodafone Idea."
"We look forward to expanding and enhancing our existing telecom tower portfolio in India, which enables a broader array of solutions for our customers and partners. Through strategic acquisitions like ATC India, we remain deeply committed to empowering digital connectivity and transforming the telecom infrastructure landscape across the region," said Arpit Agrawal, Managing Director, Head of Infrastructure, India & Middle East, at Brookfield.
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