Evaluating tower transactions and deal flow in India
A report from the TowerXchange Meetup Asia 2015 roundtable, hosted by Nomura’s Pankaj Suri
Five of Asia’s leading tower transaction analysts were joined by another dozen interested stakeholders at the “India tower valuations and deal flow” roundtable held at the 2nd annual TowerXchange Meetup Asia on November 24-25 in Singapore. The conversation started with a debate about the relative merits of different valuation metrics, before contrasting the valuations of Indian towers with similar assets in international markets, before focusing on recent and future transactions involving American Tower and Viom, Reliance Infratel, and the potential carve out of a towerco bringing to market BSNL’s ~65,000 towers.
American Tower’s acquisition of Viom Networks, a strong portfolio of 42,200 towers with a tenancy ratio of 2.4,