ATC set to acquire XCEL Telecom (India)
April 15, 2009
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The American Tower Corporation (ATC) is in the process of acquiring the telecom infrastructure firm, XCEL Telecom, for an undisclosed amount. ATC's Mauritian subsidiary American Tower Mauritius has entered into an agreement with HorseShoe Capital Mauritius, which owns XCEL Telecom, for acquiring the Indian tower company. The transaction is expected to close some time in the second quarter of 2009, subject to customary closing conditions and regulatory and other approvals. XCEL Telecom owns and operates about 1,700 wireless communications towers, besides a number of towers that are under construction.
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