CCI Issues Green Signal for Acquisition of Shareholding of Tower Vision India Pvt Ltd by Ascend Telecom Infrastructure Pvt Ltd and GIP EM Ascend 2 Pte Ltd

The Competition Commission of India (CCI) approves the acquisition of shareholding of Tower Vision India Private Limited by Ascend Telecom Infrastructure Private Limited and GIP EM Ascend 2 Pte. Ltd.

The proposed combination pertains to acquisition Ascend Telecom Infrastructure Private Limited (Ascend) and GIP EM Ascend 2 Pte. Ltd. (GIP EM) (collectively, Acquirers) of 100 percent of the shareholding of Tower Vision India Private Limited (Target) (Proposed Combination).

Acquirers

The Acquirers are entirely owned by funds/investment vehicles managed by entities that are ultimately controlled by Global Infrastructure Management LLC (GIM LLC). Ascend is engaged in providing passive telecommunication infrastructure services through towers in India while GIP EM is presently not engaged in any business operations.

Target

The Target is controlled by Tower Vision Mauritius Limited and is engaged in the provision of passive telecommunication infrastructure services through towers in India.

Detailed order of the CCI will follow.