NTT had earlier sought the combined 63 per cent stake of the promoters and private equity firm General Atlantic Partners, but their exclusive talks failed due to a valuation mismatch.
GE has already exercised that right in Europe. It could do that here also. There are no free lunches. Not at least in GE. Anyway, for almost 40 to 50 per cent of what we do, there is no competition in India, says Pramod Bhasin, CEO, Gecis.
After months of negotiations, an entity owned by Pune-based property developer Panchshil Realty and US-based private equity (PE) company Blackstone has bought a majority stake in Express Towers.
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