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The market attention attracted by Reliance Communications recently has been attributed to the company's announcement that it has secured shareholder approval to demerge its tower business.

According to market participants, this has rekindled hopes in certain quarters that private equity firms might pick up stake in the demerged unit, which is to be called Reliance Telecom Infrastructure. Talk of private equity players eyeing a stake in the tower business has been doing the rounds for some time now.

In mid-November last, Financial Times had reported that the company was in talks with Blackstone and Carlyle to raise about $1 billion for the tower business. The report had mentioned that Temasek and American Tower were also keen on the business.

On Wednesday, the scrip closed higher at Rs 461, gaining of 1.20 per cent, with improved volumes.

K.S. Badri Narayanan

More Stories on : Stock Markets | Stocks | Telecommunications | Ear to the ground | Restructuring | Reliance Communications Ltd

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