India’s Aircell Looks To Sell Telco Towers

NEW DELHI (Reuters) – Indian mobile firm Aircel, 74 percent owned by Malaysia’s Maxis, is in talks to sell its 12,000 mobile towers valued at about $1.5 billion to raise funds, the Economic Times reported on Tuesday.

Tower operator Tata-Quippo, a joint venture of India’s Tata Group, private equity funds and Indus Towers, a joint venture of Bharti Airtel (BRTI.BO), Vodafone Essar (VOD.L) and Idea Cellular (IDEA.BO) are among the interested parties, it said.

The newspaper said Nomura and Rothschild were the advisors for a possible deal with Tata-Quippo, but cited an unnamed industry official as saying that talks were at early stages and a deal may take up to six months.

The paper said Maxis Chief Executive Sandip Das and Arun Kapur, group president at Quippo, declined comment.

Reuters could not immediately reach an India-based spokeswoman of Aircel.

(Writing by Devidutta Tripathy; Editing by Ranjit Gangadharan)