Reliance Comm exec sees tower arm sale cutting debt by half

NEW DELHI (Reuters) - Reliance Communications expects a planned sale of its telecoms tower arm to reduce its debt burden by "almost half", Syed Safawi, head of the firm's wireless unit, told Reuters on Saturday.

He said Reliance Comm had net debt of 319.75 billion rupees ($7.1 billion) at the end of June.

Reliance Comm earlier on Saturday reported a sharper-than-forecast 37 percent fall in quarterly profit.

(Reporting by Devidutta Tripathy; editing by Patrick Graham)