France Telecom is close to buying the IT business of communication infrastructure provider GTL in the next few days for about $70 million, intended to enter the fast growing Indian telecom space.
Mumbai-based GTL k and Managed Services businesses to concentrate more on its telecom network business, where it will set up 80,000 towers in the next three years with an investment of Rs 2,400 crore (Rs 24 billion).
GTL had been in exclusive talks for at least a month now with the French major and the deal is likely to be signed shortly, a company official told PTI.
Two more international companies had evinced interests to buy