Reliance Communication (RCom) is reportedly planning to sell 80% stake in its subsidiary Reliance Globalcom to a consortium led by Bahrain Telecommunications Company (Batelco) for around Rs 6,000 crore. The company will use the proceeds to pay off its debt which is estimated to be around Rs 37,000 crore as of now.
Reliance Globalcom provides global managed network solutions and services, and has network management capability in partnership with carrier partners while, RCom is mainly engaged into the businesses of, Wireless, Broadband, Rural Communication, Reliance World, IDC, Carrier Business and Infrastructure Business.
