Govt clears ATC-Viom Networks ₹5.8k cr deal
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved Singapore-based American Tower Corporation (ATC) Asia Pacific’s acquisition of a 51% stake in Indian mobile mast operator Viom Networks for ₹5,856.51 crore. The deal had been announced in October 2015. Further, ATC has committed to an additional investment of $2 billion in India, Telecom Minister Ravi Shankar Prasad said.