ATC buys 51 pc of Viom for Rs 7,635 cr

On October 21, 2015, Srei Infrastructure Finance Ltd (Srei), a Kanoria Foundation entity, entered into definitive agreement with American Tower Corporation (ATC) under which ATC will acquire a 51 pc controlling interest in Viom Networks Ltd (Viom), which owns and operates pan India 42,200 wireless communications towers and 200 indoor distributed antenna systems across India. The stake will be purchased from parties including the Kanoria Group, several other minority shareholders including IDFC PE Fund II and from Tata Teleservices Ltd (TTSL), for a total cash consideration of Rs 7,635 cr.