American Tower Corp (ATC) has reported a $322 million goodwill impairment charge for its India unit in the quarter ended September 2023. The company cited continuing business challenges as the reason behind the charge. The fair value of ATC’s India unit dropped below its carrying amount in the September quarter.
American Tower Corp (ATC) has entered into a 60-day exclusivity agreement with US private equity firm I Squared Capital, potentially leading to ATC selling a minimum of 51% of its India unit. This deal, if successful, would result in I Squared Capital gaining majority control of ATC’s India telecom towers.
