Bloomberg reported that TATA Group may sell 49% of its phone transmission towers business to a unit of SREI Group for about USD 1.9 billion.

As per report, SREI Group’s Quippo Infrastructure Equipment Limited is among the leading bidders for the stake in Wireless TATA Telecom Infrastructure that owns about 13,500 transmission towers.

The report added that Citigroup Inc and Lehman Brothers Holdings Inc. are advising TATA while JM Financial Ltd. is advising Quippo.