Reliance Communications Ltd (RCom) on Friday announced the sale of 51 per cent stake in its telecom tower business to Canada-based Brookfield Infrastructure Group, for an upfront cash payment of Rs 11,000 crore. ‘RCom will receive an upfront cash payment of Rs 11,000 crore from the proposed transaction. RCom will also enjoy 49 per cent future economic upside from the towers business, based on certain conditions,’ the company said in a statement. RCom plans to utilise the sale ... Rediff.com, 1 week ago
Ambani said, in the telecom space, the focus will be on debt reduction, and the virtual merger did away with the need for major capex and will help towards this Anil Ambani, chairman of the Reliance group, said on Tuesday that he was working with his brother, Mukesh Ambani, to realise their father’s dream and Reliance Communications’ association with Mukesh-led Reliance Jio has accomplished a virtual merger. He was addressing shareholders at the annual general meetings of RCom, ...Rediff.com, 4 weeks ago
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