Quipo to offload stake
July 15, 2007
US-based hedge fund DB Zwirn is close to picking up 18 to 22 per cent stake in Quipo Infrastructure's subsidiary, Quipo Telecom Infrastructure Limited (QTIL), for over $40 million. QTIL, which currently has around 1,500 towers, has a target of setting up 6,000 towers by March 2008. The company is planning to invest $2.5 billion to set up 30,000 towers by 2010.
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