RCom may sell tower unit to Brookfield

Our Bureau Mumbai | Updated on January 08, 2018

A day after calling off its merger with Aircel, Reliance Communications on Monday said it was in talks with private equity firm Brookfield to sell 100 per cent stake in the telecom company’s tower unit. RCom had earlier announced that it would sell 51 per cent stake in Reliance Infratel for ₹11,000 crore. However, that deal was under the assumption that the merger with Aircel would go through.

Speaking to BusinessLine, RCom’s Executive Director, Punit Garg said: “We are in discussions with Brookfield. Of course with the Aircel towers not part of the deal any more, there will be a different valuation. We are also looking at the possibility of retaining the current construct where we own part of the economic interest but also exploring them owning 100 per cent.”

Published on October 02, 2017

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