TTML tower business deal

Tata Teleservices Maharashtra Limited(TTML) plans to divest 49% of its tower arm Wireless Tata Telecom Infrastructure within the next two months, reports Business Line.
The company has short listed 15 bidders which includes tower company GTL. Tata Teleservices has over 10,000 towers, while Tata Teleservices (Maharashtra) has 3,500 towers. The deal is expected to be of around US$ 6 billion.
Recently Tata Teleservices received license to provide GSM services in nineteen circles from the Department of Telecommunications (DoT) under the crossover technology policy.Tata Teleservices becomes the second company after Reliance Communications to get permission for operating GSM services under the crossover technology policy.
Shares of Tata Teleservices (Maharashtra) declined Rs 2.8, or 8.26%, to settle at Rs 31.1. The total volume of shares traded was 8,800,630 at the BSE. (Friday, mar 7,2008)