The stock of Reliance Communications will remain in focus this week as the company is in advanced stage of negotiations with a consortium of PE funds, including Samena Capital, for the acquisition of Reliance Globalcom.
RCom said that the process of due diligence and completion of definitive documents in relation to the acquisition has already begun.
Reliance Globalcom is a unit of RCom that owns undersea cable firm Flag Telecom. The deal is likely to conclude by May end, the company said.
“At this point, there can be no certainty that this will lead to a transaction. A further announcement will be made in due course, if and when appropriate,’’ RCom statement said.
Reliance Globalcom was previously in talks with Bahrain Telecom, but now clarified that it is no longer in talks with Batelco.