Quippo Telecom Infrastructure Ltd (QTIL), a SREI Group subsidiary, has finally acquired a 49 percent stake in Wireless Tata Telecom Infrastructure (WTTL), Tata Teleservices' tower arm.

Under the deal, QTIL will pay Rs 2400 crore to Tatas, and transfer its 5000 towers into WTTI. In addition, QTIL will have management control in the firm.

After the deal, WTTL will have an estimated 20,000 telecom towers and will emerge as one of the strong players in the telecom infrastructure domain. The company aims to have 50,000 telecom towers by 2011 and have 18,000 telecom towers post the Tata Teleservices deal.

However, Tata Tele would retain 51% stake in the tower arm post the Quippo deal.

Sources revealed that the company plans to compete with Indus Towers, the three-way JV between Bharti Airtel, Vodafone Essar and Idea Cellular besides Bharti Infratel and Reliance Infratel.