I Squared set to buy majority in ATC India towers biz

Kolkata/Mumbai: Miami-based infrastructure investment group, I Squared Capital, is set to acquire a significant majority stake in the India unit of Boston-based American Tower Corp (ATC), people aware of the matter said.

I Squared Capital is finalising the terms to acquire around 65% stake in ATC Telecom Infrastructure Pvt Ltd (ATC-TIPL), at an enterprise value of around $1.5-$1.75 billion.