NSR, IL&FS telco tower operators to merge
Private equity firm New Silk Route's (NSR) investee Ascend Telecom Infrastructure will merge its telecommunications tower business with India Telecom Infra Ltd. (ITIL) – which is 50%-owned by industry peer IL&FS – in an effort to shore up their resources as the number of mobile and wireless users reaches new heights in the market.
NSR, which focuses on growth capital investments on the Indian subcontinent, with $1.4 billion under management, made its initial investment into Ascend in July 2007, buying a 73% stake. ITIL, meanwhile,...
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