GIC and partners buy India telecom towers for US$3.4b; Airtel unit to go ahead with Indus merger
Singapore
SINGAPORE sovereign wealth fund GIC's affiliates, Canada's Brookfield Infrastructure Partners and other institutional co-investors have bought the entire stake in a telecommunications tower company in India.
They acquired it from Reliance Industrial Investments and Holdings, a wholly-owned subsidiary of Indian billionaire Mukesh Ambani-controlled conglomerate Reliance Industries.
The total equity commitment for the transaction is about US…
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