American Tower Corp (ATC), is negotiating hard to acquire the standalone tower firm, Independent Mobile Infrastructure (IMIL). IMIL is approximately being valued at around INR 120 crore at the upper end. ATC had purchased Xcel Telecom for around Rs 800 crore nearly a year ago.
IMIL was founded in 2006 by Jide J Zeitlin, who was a partner at the Goldman Sachs Group from 1996 till December 2005. He is also the founder of the private equity firm Keffi Group, which is the parent company of IMIL. It is learnt to be in the process of closing down most of its India operations.
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