RCOM planning tower sale

6 May 2015

Reliance Communications (RCOM) is looking to sell its majority stake in passive infrastructure firm Reliance Infratel as it looks to trim its debt and focus on its core business, the Economic Times writes, citing people familiar with the matter. Reliance Infratel is the third largest tower company in the country after Indus Towers and Bharti Infratel, with 45,000 towers and more than 120,000km of inter- and intra-circle fibre. Based on Bharti Infratel’s currently valuation of around INR740 billion (USD11.63 billion), RCOM could expect at least INR200 billion-INR250 billion for its stake in the operator, one source told the paper. RCOM is reportedly looking to sell the entirety of its 96% stake in Infratel, but would settle for 51%, reducing its own holding to 45%, another source was quoted as saying.

India, Reliance Communications (RCOM)