Quippo Telecom Infrastructure Limited (QTIL) has reportedly emerged as the top bidder for a 49 per cent stake in TTSL's tower arm, Wireless Tata Telecom Infrastructure Limited (WTTIL). With close to 5,000 towers in its portfolio, QTIL is valued at Rs 30 billion. According to analysts, WTTIL has an enterprise valuation of over $3.5 billion. The merged entity will command a valuation of around $4.5 billion. Lehman Brothers and Citigroup, which were advising TTSL on the stake sale in WTTIL, are likely to be given the mandate for the merger.