New Delhi, Aug. 18

Quippo Telecom, a pure play telecom tower company, on Wednesday completed the acquisition for a 49 percent stake in the tower arm of Tata Teleservices for Rs 2,367 crore. “We have closed the deal with Tata Teleservices Wireless- TT Info-services Ltd (WTTIL) and have made a payment of Rs 2,367 crore. Quippo now will have four new members in the WTTIL BOARD,”Quippo Telecom Infrastructure (QTIL) Director, Mr Sunil Kanoria, told PTI. QTIL, which is a Srei Group WTTIL, while for the remaining 19 per cent, it would transfer 5,000 towers to the new company formed post the acquisition. Following the acquisition, Tata Teleservices would merge its tower arm with Quippo to create a Rs 13,000-crore entity with 18,000 towers, making it the second-largest firm in terms of number of towers -- PTI