essar-sells-towers-business-to-american-tower-for-450-million

Essar sells towers business to American Tower for $450 million

The diversified Indian industrial group sells 100% of its telecom towers business to American Tower in a deal that specialists say represents good value for both buyer and seller.

Sameera Anand

February 25, 2010

Indian conglomerate Essar Group has sold its telecommunications towers business to a subsidiary of Boston-based American Tower for $450 million, in the second tower deal in India year-to-date.

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