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RCom in talks with potential partners for undersea cables' stake sale

27 Aug 2013 Evaluate

Anil Ambani owned Reliance Communications (RCom), India's third-biggest mobile phone operator by customers, continues to be in talks with potential partners for selling a stake in a unit that includes its undersea cable assets. Back in April, the company reportedly was seeking to raise around $800 million by selling a majority stake in one of its units, to a consortium of investors led by Bahrain Telecommunications or Batelco.

The debt-laden Indian telecom company plans to use the funds to retire loans, which have been weighing on its bottom line. Reliance’s undersea cable network carries telecommunication signals across more than 68,000 kilometers in Asia, the Middle East, Europe and the U.S.

RCom 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

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