MUMBAI, INDIA: An infrastructure fund set up by Australia's Macquarie and State Bank of India will buy a 10 per cent stake in Indian mobile tower operator Tata-Quippo for $310 million, the Economic Times said on Monday.
The transaction will be completed in two months, the newspaper said, citing sources close to the deal.
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Officials at Macquarie, State Bank of India and Tata-Quippo could not immediately by reached by Reuters for comment.
The Economic Times said Macquarie was likely to have a representation on the board of Tata-Quippo, a joint venture between India's Tata conglomerate and Quippo Telecom, after the deal.