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In telecom towers, India allows ATC majority stake in Viom

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  7 April 2016 12:00 AM GMT

NEW DELHI, April 6: India on Wednesday approved top telecom towers company ATC Asia Pacific to acquire a majority stake in Viom Networks for Rs 5,856.51 crore. “The Cabinet Committee on Economic Affairs, chaired by Prime Minister rendra Modi, has given its approval to the proposal of ATC Asia Pacific Singapore for acquisition of 51 per cent of shareholding in Viom Networks by way of transfer from existing shareholders,” an official statement said here. The approval would result in a total foreign direct investment inflow of Rs 5,856.51 crore into the telecom infrastructure of the country which will spur economic growth, besides fostering inclusiveness and equity, it added. (IANS)

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