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.
India Infoline News Service / 08:49, Aug 22, 2014
The outlook is a positive start with indices set to take initial cues from the global markets. US indices closed higher with S&P 500 at a record high. The Dow and S&P 500 added around 0.3% while Nasdaq gained marginally.