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Our Bureau

Mumbai, Aug. 8 The George Soros-promoted Quantum Fund is among the seven international investors which have together picked up a 5 per cent stake in Reliance Telecom Infrastructure Ltd (RTIL).

They bought the stake for Rs 1,400 crore, allowing Reliance Communications to book capital gains of Rs 1,200 crore for the current fiscal quarter, said a statement from RCom which recently hived off RTIL into a separate company.

The equity placement values RTIL at Rs 27,000 crore.

A couple of weeks ago RCom had announced that it had placed 5 per cent of RTIL’s equity with a clutch of international investors whom the company then declined to name.

The other investors are Fortress Capital, HSBC Principal Investments, Galleon Group, New Silk Route, GLG Partners and DA Capital, a company statement said.

RTIL would function as an independent wireless telecom infrastructure provider. It will build, own and operate communications towers and related assets, commonly referred to as “passive infrastructure”. The company will pursue opportunities for further unlocking of value through an IPO and/or strategic sale at an appropriate time, said the statement.

More Stories on : Telecommunications | Foreign Institutional Investors | Reliance Communications Ltd

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