CCI Approves Acquisition of Tower Vision by Ascend Telecom & GIP EM Ascend 2
CCI Approves Acquisition of Tower Vision by Ascend Telecom & GIP EM Ascend 2
The Competition Commission of India (CCI) has granted its approval for the acquisition of 100 per cent shareholding of Tower Vision India by Ascend Telecom Infrastructure and GIP EM Ascend 2 Pte Ltd.
Ascend Telecom Infrastructure and GIP EM Ascend 2 Pte Ltd are funds and investment vehicles owned and controlled by Global Infrastructure Management LLC.
The proposed combination envisages acquisition by Ascend Telecom Infrastructure Pvt Ltd (Ascend) and GIP EM Ascend 2 Pte Ltd (GIP EM) of 100 per cent of the issued and fully paid-up ordinary equity shares shareholding of Tower Vision India Pvt Ltd by the acquirers.
Tower Vision India is controlled by Tower Vision Mauritius Ltd and is engaged in the provision of passive telecommunication infrastructure services.
Ascend is engaged in providing passive telecommunication infrastructure services through towers in India. Whereas GIP EM is presently not engaged in any business operations.
