RIL arm may buy stake in RCOM tower subsidiary Infratel: reports

India Infoline News Service | Mumbai |

There are reports that the contract may be inked next month.

The telecom arm of Reliance Industries, owned by Mukesh Ambani, may acquire a stake in Reliance Infratel in a complex deal that also includes leasing as many as 50,000 towers, according to reports.

Reports stated that the stake sale may be valued at $3.5-4 bn ( Rs 187.89-214.71bn) for the company.

There are reports that the deal may be inked next month.

The chief executive officer (CEO) of Reliance Communication's wireless business was quoted as saying " the company is in talks with three telecom operators for tower-leasing deals."

There are also reports that deal may be negotiated between RIL's Infotel Broadband, buying 15-25% in Reliance Infratel, RCOM's tower.

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