Major wireless tower operators in the U.S. are gradually diversifying their operations in the emerging market of India. The tower sector in India is growing through a wave of consolidation. Smaller players are looking at mergers or complete sell out to large global tower operators since these companies lack the wherewithal to take on their large rivals.
Recently, American Tower Corp. (AMT) acquired XCEL Telecom Pvt Ltd., a mobile tower operator in India. XCEL owns 1,667 towers and has another 70 towers in various stages of development. The acquisition increases the total number of American Tower controlled wireless tower sights to over 26,000. Previous to this acquisition, American Tower had entered a build-to-suit agreement with a Tier1 wireless carrier in India to construct 200 tower sites.
Crown Castle International (CCI) is currently in negotiations with two Indian tower operators, Aster Infrastructure and Independent Mobile Infrastructure Ltd.
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