MUMBAI, April 28 Viom Networks Ltd, an Indian
phone tower operator majority owned by the Tata group, is
looking to raise funds either through a stake sale or an
overseas listing that could raise up to $350 million, sources
with direct knowledge of the matter said.
Malaysia's Axiata Group Bhd, U.S.-headquartered
tower operator American Tower Corp, which operates in
India, and a couple of private equity firms are among the
possible bidders for the Viom stake, the sources said.
Tata Teleservices Ltd, India's No.7 mobile phone
carrier by users, owns about 54 percent of Viom, which operates
more than 40,000 mobile phone masts. Indian infrastructure
financier SREI Group holds about 18 percent.
Four private equity investors including Singapore sovereign
wealth fund GIC and Oman Investment Fund own the rest
of the company.
Viom is exploring an overseas initial public offering either
on the New York Stock Exchange or the London Stock Exchange, the
company said. It did not say how much it was looking to raise
and if it was also considering bringing in an equity partner.
The sources declined to be named as they were not authorised
to speak to the media ahead of a public announcement. An Axiata
spokeswoman declined to comment, while American Tower and Tata
Teleservices did not immediately respond to requests for
(Reporting by Sumeet Chatterjee in MUMBAI and Devidutta
Tripathy in NEW DELHI; additional reporting by Yantoultra Ngui
in Kuala Lumpur; Editing by Mark Potter)