Aircel to sell 17,000 towers by mid-February
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New Delhi: Telecom service operator Aircel has said that it will finalize a buyer for its 17,000 telecom towers across the country in the next six weeks, reports PTI. Aircel, has about 38,000 towers, and out of this, nearly 17,000 towers are owned by the company. "We have not concluded the deal. We are in the final stages of discussions with three players and will finalize a buyer in the next 4-6 weeks," said Aircel CEO Gurdip Singh. Singh, however, declined to name the three players or details about valuations. According to sources, Tata Quippo and GTL Infrastructure are among the two main players which are in the fray to buy the towers. On whether the company will go public this year, Singh said, "We may think about it after finalizing our tower deal. We have enough cash in our balance sheet right now." Malaysia's Maxis Communications, which holds 74 percent in Aircel has already come out with an IPO last year. Mobile phone firms are leasing out infrastructure instead of setting it up themselves to control costs as it spares them the need to keep spending on capital expenditure.

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