GTL lines up Rs 1,000 crore acquisition plans

Our Corporate Bureau
02 June 2007

Mumbai: Wireless telecommunication service provider GTL is embarking on a Rs 1,000 crore acqusition plan in the telecom services space to enhance its services offering.

GTL is close to acquiring four overseas firms in the next two quarters. The company is doing due diligence for four overseas companies in Europe, the US and Asia Pacific, investment banking sources said.

These acquisitions would be made in segments like network planning management, infrastructure management and network deployment, sources said.

GTL recently acquired Genesis Consultancy, a UK-based network services provider, for $9 million (over Rs 40 crore) to enhance its third generation (3G) mobile capabilities.

The company is said to be focusing on the telecom space and plans to exit its IT managed services division and BPO unit. The company has been eyeing turnkey projects for mobile operators and equipment vendors.

GTL recently hived off its cellular tower business into a separate company, GTL Infrastructure. This division builds telecom towers and leases it out to mobile operators for fixed rentals.