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On Wednesday, American Tower Corporation has received government’s approval for buying 51 percent stake in domestic telecom tower firm Viom Networks for Rs 5,857 crore and pledged to invest $2 billion more in India.
The Cabinet Committee on Economic Affairs (CCEA) has approved the stake purchase in Viom, by ATC’s Singapore based subsidiary.
The investment has been made through ATC’s subsidiary Singapore based mobile tower company ATC Asia Pacific.
The telecom minister Ravi Shankar Prasad has said after the CCEA meeting that “The company is keen to participate in a big way in initiatives like Digital India as it considers India as a big market in terms of communications.”
