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Srei Infrastructure Finance fell 5 per cent in morning trade on the BSE adding to the 4.9 per cent decline in the previous session.
At 11.55 am, the stock was down 4.96 per cent or Rs 2.75 at Rs 52.70.
American Tower-Viom deal implied an EV/tower of $75,000, nearly 40 per cent discount to rival Bharti Infratel's current valuation, said analysts.
American Tower Corporation is finally set to buy a controlling stake in Viom Networks for about Rs 7,600 crore. ATC will acquire the stake from a clutch of existing investors, including Kolkata-based Srei Infrastructure. The Tata Group, which currently owns a 54 per cent stake in Viom, will stay invested as a minority partner.
SREI Infrastructure along with Kanoria Block shareholders will sell its stake for Rs 2,952 crore to cut debt, the filing said.
Bharti Infratel also fell 2.2 per cent on worries the deal may weigh on valuations and raise competition, said analysts.
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