RCom open to selling 100% of tower unit to Brookfield

Earlier offer was to sell 51% to global tower firm; buyer revaluing assets following failure of merger with Aircel

Surajeet Das Gupta  |  New Delhi 

Reliance Communications is in discussions with the Brookfield group to sell up to 100 per cent stake in its tower subsidiary instead of the 51 per cent it had earlier agreed upon. The international tower company is also engaged in a revaluation of the deal because of the failure of the merger between Aircel and RCom.  As a result of Aircel’s departure, the tenancy in the Ambani tower business will fall from 1.87 to 1.2.  Confirming the development, Punit Garg, executive director of Reliance Communications, said, “We are in deep discussions with Brookfield and ...

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First Published: Mon, October 02 2017. 20:29 IST