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GIC and partners buy India telecom towers for US$3.4b; Airtel unit to go ahead with Indus merger

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Fiona Lam
Vivienne Tay

Fiona Lam &

Vivienne Tay

Published Tue, Sep 1, 2020 · 09:50 PM

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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.

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