Reliance, GTL could combine tower biz
17-06-2010
Anil Ambani could keep 26 percent of the new entity
The telecoms tower unit of India's Reliance Communications could combine its tower assets with smaller rival GTL Infra in exchange for Rs.150 billion cash ($3.2 billion) and a significant stake in a new entity, the Economic Times reports
Citing a person familiar with the discussions, the newspaper said the deal would value Reliance Infratel tower assets at around Rs.300 billion and GTL Infra at just short of Rs.150 billion.
The paper said Reliance Comm shareholders would get a 50 percent stake in the new combined entity, should the deal go through. Billionaire Anil Ambani, who controls Reliance Comm, would keep 26 percent of the new entity, it said.
The telecoms tower unit of India's Reliance Communications could combine its tower assets with smaller rival GTL Infra in exchange for Rs.150 billion cash ($3.2 billion) and a significant stake in a new entity, the Economic Times reports
Citing a person familiar with the discussions, the newspaper said the deal would value Reliance Infratel tower assets at around Rs.300 billion and GTL Infra at just short of Rs.150 billion.
The paper said Reliance Comm shareholders would get a 50 percent stake in the new combined entity, should the deal go through. Billionaire Anil Ambani, who controls Reliance Comm, would keep 26 percent of the new entity, it said.
