Boston-based American Tower Corp (ATC) is set to cede majority control in its wholly owned India unit to US private equity firm I Squared Capital after months of negotiations, according to sources familiar with the matter. The two sides have entered into a 60-day exclusivity agreement for bilateral negotiations, which could result in ATC selling at least 51% of its India unit. This potential acquisition by I Squared Capital would mark a significant development in the Indian telecom industry, as it would give the private equity firm majority control over ATC’s India telecom towers.