GTL Infra may receive INR 10 billion from Aircel - report

Indian telecommunication towers company GTL Infrastructure may get about INR 10 billion from mobile operator Aircel as the mobile operator will not be able to deliver on its promise to rent 20,000 additional towers by mid-2013, writes The Economic Times citing two sources familiar with the matter. GTL Infra has bank guarantees that may be enforced if Aircel is unable to deliver by next year. Aircel director Sandip Das said the partners are trying to work out a new number in negotiations. The immediate issue is to check all towers run optimally and remain functional for others to share, he added. Discussions may include reducing the minimum number of sites Aircel may occupy, or extend the timeframe, or reduce the amount it is liable for. Details are yet to be threshed out, said an official at GTL Infra, who did not want to be named.