Reports have suggested that GTL Infrastructure Ltd. is all set to purchase mobile-phone towers from the Indian division of Malaysia-based Maxis Communications Bhd. The deal will cost GTL a total of 85 Billion Rupees ($1.8 Billion).

Mumbai-based GTL will be acquiring 17,500 phone transmission towers in order to effectively expand its network across India, and the takeover will be a cash and debt deal. As per an invitation sent out by the company, GTL is all set to hold a press conference tomorrow and an official announcement is expected then.

With the purchase, GTL will be able to more than double the number towers it currently operates ion India, which is the world's second largest mobile-phone market with regards to subscribers.

"The inorganic route will scale up GTL's capacities quickly which otherwise would have been a long drawn and difficult process. The deal appears to be priced reasonably", said G. V. Giri, an analyst at IIFL Ltd. in Mumbai.

Shares of the company hiked by 14% on the speculation, to trade at a new high of 42.85 Rupees on BSE, which is the biggest rise recorded since December 31, 2007.