RIL Arm May Buy Stake in RCOM Tower Subsidiary Infratel

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.