NEW DELHI (Reuters) - The Telecom Regulatory Authority of India (TRAI) has suggested capping foreign holding at 74 percent in telecoms tower companies, a proposal if accepted could dissuade buyouts by overseas companies.
The possible new rule will be significant for No.2 mobile carrier Reliance Communications , which is trying to sell its tower business unit to raise funds, and is said to be in talks with U.S. private equity giants Blackstone and Carlyle .
