BC investment fund, partners, to acquire Indian telecom tower company for US$3.4 billion

VICTORIA — British Columbia Investment Management Corporation (BCI) announced Monday it is part of a global deal, along with Brookfield Infrastructure Partners and its institutional partners, to acquire a 100% stake in a telecom tower company in India. They are purchasing the company from Reliance Industrial Investments and Holdings Limited, and the value of the transaction is approximately US$3.4 billion, says the news release. The investment comprises a portfolio of approximately 135,000 recently constructed communication towers which form Reliance Jio Infocomm Limited’s telecommunication network. According to the news release, more towers are planned, which will increase the total number of...