Reliance Communications, flagship company of the Anil Dhirubhai Ambani Group (ADAG) of companies, has hired UBS to sell the company’s 95-percent stake in tower unit Reliance Infratel. The company has been in talks with several strategic and private-equity firms, including that of Blackstone and UAE's Etisalat, asking $5 billion for the stake. Meanwhile, UBS has reached out to US companies American Tower and Crown Castle International, India's Viom Networks. The bank has also reached out to private-equity firms Carlyle, Apax Partners.
Recently, RCOM has increased call charges by 20% from 1 paisa to 1.2 paise per second for both GSM and CDMA services in most of its operating circles. The company has hiked the call tariff due to inflationary pressure in the country.
The company reported net loss of Rs 272 for the quarter ended June 30, 2011 as compared to net loss of Rs 491 million for the June quarter of the previous year. Its total income has decreased by 10.42% at Rs 2854 crore for the quarter from Rs 3186 crore for the corresponding quarter of the last fiscal
| Company Name | CMP |
|---|---|
| Bharti Airtel | 1758.15 |
| Vodafone Idea | 12.19 |
| Indus Towers | 410.70 |
| Tata Communications | 1571.35 |
| Bharti Hexacom Ltd. | 1466.35 |
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