The Competition Commission of India (CCI) has this week approved the sale of American Tower Corporation's Indian business unit (ATC India) to Brookfield Asset Management.

First announced in January, the tower company agreed on a deal to sell its operations in India for INR 210 billion ($2.5bn) to Data Infrastructure Trust (DIT).

DIT is an infrastructure investment trust sponsored by an affiliate of Canada’s Brookfield Asset Management.

Following the approval, DIT will now acquire 100 percent of the equity interests in ATC India.

The announcement of a sale has long been expected, with ATC India heavily linked with a sale last year. In September, DCD reported that the company was confident of an exit from India and in the latter stages of negotiations.

ATC India has operated in the market for 17 years and owns more than 77,000 towers in the country as of the end of 2022. Its biggest customer in the country is debt-stricken Vodafone Idea (Vi).

It's the third biggest tower infrastructure services provider in the country, behind Indus Towers and Brookfield-owned Summit Digitel which acquired Reliance Jio's telecom towers.

Brookfield has around 157,000 towers across India and counts Reliance Jio as its anchor tenant.

Globally American Tower operates more than 226,000 towers across 25 markets.