Viom Networks Ltd, an Indian phone tower operator majority owned by the Tata group, is looking to raise funds either through a stake sale or an overseas listing that could raise up to $350 million, sources with direct knowledge of the matter said. Malaysia's Axiata Group Bhd, U.S.-headquartered tower operator American Tower Corp, which operates in India, and a couple of private equity firms are among the possible bidders for the Viom stake, the sources said.Tata Teleservices Ltd, India's No.7 mobile phone carrier by users, owns about 54 percent of Viom, which operates more than 40,000 mobile phone masts. Indian infrastructure financier SREI Group holds about 18 percent.Four private equity investors including Singapore sovereign wealth fund GIC and Oman Investment Fund own the rest of the company.Viom is exploring an overseas initial public offering either on the New York Stock Exchange or the London Stock Exchange, the company said. It did not say how much it was looking to raise and if it was also considering bringing in an equity partner.
American Tower Corporation is a holding company. The Company conducts its operations through its directly and indirectly owned subsidiaries and joint ventures. Shares of AMT fell by 0.57% or $-0.48/share to $83.08. In the past year, the shares have traded as low as $67.89 and as high as $85.26. On average, 2211360 shares of AMT exchange hands on a given day and today's volume is recorded at 1063711.
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