COMPANY LAW
| Ascend, India Telecom to merge tower business Thu, 03 Mar 2011 |
| CHENNAI: Ascend Telecom Infrastructure (Ascend) and India Telecom Infra (ITIL) have agreed to merge their telecom tower businesses. Ascend is currently owned by New Silk Route which made its initial investment in the company in July 2007. New Silk Route is a leading Asia-focussed private equity and growth capital firm with $1.4 billion under management. ITIL is jointly owned by Infrastructure Leasing & Financial Services (IL&FS) and TVS Interconnect Systems. TVS Interconnect, a wholly-owned subsidiary of TV Sundram Iyengar & Sons, manufactures and markets products such as telecom antennas, in-building solutions, cables, connectors and accessories, says a release |
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