American Tower to invest $2 billion more in India: Ravi Shankar Prasad

New Delhi: American Tower Corp has committed to invest $2 billion in India, in addition to the Rs5857 crore ($879 million) it will spend to acquire a controlling stake in Viom Networks Ltd, the country’s telecom minister said 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.

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