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RCom to sell 51% stake in Reliance Infratel: Report

06 May 2015 Evaluate

Reliance Communications (RCom) is reportedly eying to sell a majority stake in unit Reliance Infratel, the country’s No. 3 tower company, at a valuation of Rs 20,000-25,000 crore. The Anil Ambani-owned company, which wants to sell its entire stake in Reliance Infratel, may settle for a 51% sale at the least and has asked for bids from bankers including Morgan Stanley, Bank of America Merrill Lynch and JM Financial to run the process. Reliance Infratel, with some 45,000 towers and over 120,000 km of intra- and inter-circle fibre, trails Indus Towers and Bharti Infratel in rankings by number of towers.

Reliance Communications is India’s foremost and truly integrated telecommunications service provider. The company, with a customer base of about 150 million, including over 2.5 million individual overseas retail customers, ranks among the Top 4 Telecom companies in the world by number of customers in a single country.

Reliance Comm Share Price

1.05 0.01 (0.96%)
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Peers
Company Name CMP
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