The Competition Commission of India (CCI) approves the acquisition of shareholding of Tower Vision India Private Limited by Ascend Telecom Infrastructure Private Limited and GIP EM Ascend 2 Pte. Ltd.

The proposed combination pertains to acquisition Ascend Telecom Infrastructure Private Limited (Ascend) and GIP EM Ascend 2 Pte. Ltd. (GIP EM) (collectively, Acquirers) of 100 percent of the shareholding of Tower Vision India Private Limited (Target) (Proposed Combination).

Acquirers

The Acquirers are entirely owned by funds/investment vehicles managed by entities that are ultimately controlled by Global Infrastructure Management LLC (GIM LLC). Ascend is engaged in providing passive telecommunication infrastructure services through towers in India while GIP EM is presently not engaged in any business operations.

Target

The Target is controlled by Tower Vision Mauritius Limited and is engaged in the provision of passive telecommunication infrastructure services through towers in India.

Detailed order of the CCI will follow.

Merger control approval for acquisition of passive telecom infrastructure provider leading to consolidation under common infrastructure fund control. The Competition Commission approved acquisition of 100 percent of the shareholding of Tower Vision India Private Limited by Ascend Telecom Infrastructure Private Limited and GIP EM Ascend 2 Pte. Ltd., transferring control of a provider of passive telecommunication infrastructure in India to investment-vehicle owned Acquirers ultimately controlled by a common infrastructure management group; a detailed order will follow.