1. American Tower to invest $2 bln more in India, says Ravi Shankar Prasad

American Tower to invest $2 bln more in India, says Ravi Shankar Prasad

American Tower CEO James D. Taiclet Jr made the commitment to invest more in India during their meeting on Tuesday, minister Ravi Shankar Prasad said, without specifying what the amount would be spent on.

By: | Published: April 6, 2016 4:56 PM
ravishankar prasad-l-pti American Tower CEO James D. Taiclet Jr made the commitment to invest more in India during their meeting on Tuesday, minister Ravi Shankar Prasad said, without specifying what the amount would be spent on. (PTI)

American Tower Corp has committed to invest $2 billion in India, in addition to the 58.57 billion rupees ($879 million) it will spend to acquire a controlling stake in Viom Networks Ltd, said Telecom Minister Ravi Shankar Prasad on Wednesday.

American Tower CEO James D. Taiclet Jr made the commitment to invest more in India during their meeting on Tuesday, minister Ravi Shankar Prasad said, without specifying what the amount would be spent on.

The cabinet on Wednesday cleared American Tower’s proposal to buy a 51 percent stake in Indian mobile mast operator Viom Networks to expand in the world’s second-biggest telecommunications market by number of users.

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