GTL Infra Bags Aircel Tower Biz – GTL Infrastructure is buying Aircel’s telecom tower business for Rs 4,000 crore in an all-cash deal, outbidding players like Tata-Quippo. The deal to buy Aircel’s 17,500 towers will take its total portfolio to 33,000, making it the largest independent tower player. The deal may have a debt component of another Rs 4,500 crore and the deal may be funded out of internal accruals of the GTL group. The deal may be signed by January. (Economic Times)
Citibank Exits Bharti Infratel – Citibank’s Special Situations Group has sold its holding in the telecom tower arm of Bharti Airtel to JPMorgan. The deal values Bharti Infratel at a little over $10 billion and Citibank has reportedly exited without any gain from the two year old investment of $50 million. Other PE investors in Bharti Infratel include Temasek, KKR and India Equity Partners. (ET)
Shriram Transport To Buy GE Unit – Shriram Transport Finance Company (STFC) is buying the transport finance business of General Electric. STFC has acquired has acquired the assets of GE Transportation Financial Services for Rs 1,200 crore. The deal would give STFC a new set of customers. Deal involves a payment of Rs 1,000 crore for the assets of the commercial vehicle business and Rs 200 crore for those used in construction. (ET)
ICICI Bank Sells Card Payment Terminals – ICICI Bank has hived off and sold its electronic point of sales (PoS) terminals network to First Data Corporation (FDC). The network has over 1.5 lakh electronic swipe machines that accept credit and debit card payments The new company will be called ICICI Merchant Services in which First Data has bought an 81% stake. (ET)
ICICI Bank May Sell 3i Info Stake To US PE Firm – ICICI Bank Ltd’s plans to sell its 30% stake in 3i Infotech Ltd for a likely price range of Rs 110-120 a share. The bank has sold 5.7 million shares which amounted to 3% of its stake in early October. PE firms such as Carlyle Group, Apax Partners, and Kohlberg, Kravis & Roberts are in the fray to acquire ICICI’s stake in the company. (Business Standard)
RCom To Raise Rs 6,300 Cr For Expansion – The Anil Ambani-controlled Reliance Communications (RCom) plans to scale up its wireless and enterprise business with an investment of over Rs 6,300 crore. RCom will raise a short-term debt of Rs 3,500 crore by issuing commercial papers (CPs) and non-convertible debentures (NCDs). Its subsidiary, MacroNet Mercantile Pvt Ltd, will raise Rs 1,500 crore to finance imports of telecom equipment, modems, handsets, data cards, DTH and IPTV set-top boxes. (BS)
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