Millennium Equity gets into India's telecom tower business
Saturday, 19 January 2008, 02:19 IST
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Dubai: The Millennium Private Equity (MPE) has struck a deal with the Investment Corporation of Dubai (ICD) to invest into an Indian telecom tower business, WAM news agency reported on Thursday. Private equity firm MPE committed $100 million together with other investment firms such as Temasek Holdings, Goldman Sachs, Macquarie, AIF Capital, Citigroup and India Equity Partners out of a total investment of $1 billion into Bharti Infratel, a subsidiary of Bharti Airtel Limited, a leading telecom player in India. Bharti Infratel, which has some 20,000 sites, has recently announced a joint venture between Bharti, Vodafone and Idea. Bharti Infratel and Indus Towers will provide passive infrastructure services like mobile towers and base transreceiver stations to all telecom operators on a non-discriminatory basis.
Source: IANS
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