ATC to buy Tata Teleservices, IDFC PE stake in mobile tower arm for $397m

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US-based American Tower Corporation (ATC) has entered into an agreement to buy Tata Teleservices Ltd’s (TTL) 50 per cent shareholding and IDFC Private Equity’s entire stake in its India unit ATC Telecom Infrastructure Pvt Ltd (ATC TIPL) for Rs 2,940 crore ($397 million), it said in a filing on Wednesday.

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