By IANS
Dubai : The Millennium Private Equity (MPE) has struck a deal with the Investment Corporation of Dubai (ICD) to invest into an Indian telecom tower business, WAM news agency reported Thursday.
Private equity firm MPE committed $100 million together with other investment firms such as Temasek Holdings, Goldman Sachs, Macquarie, AIF Capital, Citigroup and India Equity Partners out of a total investment of $1 billion into Bharti Infratel, a subsidiary of Bharti Airtel Limited, a leading telecom player in India.
Bharti Infratel, which has some 20,000 sites, has recently announced a joint venture between Bharti, Vodafone and Idea.
Bharti Infratel and Indus Towers will provide passive infrastructure services like mobile towers and base transreceiver stations to all telecom operators on a non-discriminatory basis.