Tata Teleservices Ltd. has shortlisted five companies including American Tower Corp. and Carlyle Group for selling a stake in its wireless towers unit, the Economic Times reported, citing people it didn't identify.
The Indian phone carrier may sell as much as 49 percent of the unit, the newspaper said. Other companies in the race are India's Essar Group, Quipo Telecom Infrastructure and Excel Towers, the newspaper said.
A Tata Teleservices spokesman declined to comment, the Economic Times reported. Citigroup Inc. and Lehman Brothers Holdings Inc. are advising Tata on the deal, it said. (Bloomberg)