Idea and Vodafone mobile tower assets draw interest from ATC, Brookfield and IDFC Alternatives – Feedback

American Tower Corp. (ATC), Brookfield Asset Management and IDFC Alternatives have emerged as the front runners for the independent tower assets of Vodafone India and Idea Cellular Ltd in a combined transaction, according to two people with direct knowledge of the development.

Sale of the combined assets, pegged at over $1.5 billion in enterprise value, is being negotiated with potential buyers, with a preference for a single buyer for both assets, the people cited above said on condition of anonymity.Mint reported in February that ATC had emerged as the front-runner to buy the tower assets of Idea Cellular Infrastructure Services (ICIS), a subsidiary of Idea Cellular that operates 11,000 mobile towers.

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