Viom Networks: Tata Teleservices in talks with ATC to sell stakes to Viom Networks

Telecom operator Tata Teleservices is believed to be in talks to sell its entire stake in mobile tower company Viom Networks to American Tower Corporation for about Rs 4,000 crore. "Tata Teleservices is in advance stages of finalising deal with American Tower Corporation (ATC) to exit Viom Networks. The deal is pegged at around Rs 4,000 crore," an industry source said. Mails sent to Tata Teleservices and ATC did not elicit any response. Tata Teleservices' stake in Viom Networks came down to 26 per cent after ATC acquired majority stake in the company and merged its existing Indian business. ATC bought 51 per cent stake in Viom, which owns and operates over 42,000 towers, from Tata Teleservices Ltd and SREI Infrastructure Finance for Rs 7,635 crore. ALSO READ: Tata