New Delhi: American Tower Corp has committed to invest $2 billion in India, in addition to the Rs 5,857 crore ($879 million) it will spend to acquire a controlling stake in Viom Networks Ltd, Telecom Minister Ravi Shankar Prasad said on Wednesday.
American Tower CEO James D Taiclet Jr made the commitment to invest more in India during their meeting on Tuesday, Mr Prasad said, without specifying what the amount would be spent on.
The Cabinet on Wednesday cleared American Tower's proposal to buy a 51 per cent stake in Indian mobile mast operator Viom Networks to expand in the world's second-biggest telecommunications market by number of users.
($1 = Rs 66.6550)
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