Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessCompaniesRComm puts tower unit on the block for $5bn: Sources

    RComm puts tower unit on the block for $5bn: Sources

    Billionaire Anil Ambani's Reliance Communications has hired UBS to sell its 95% stake in tower unit Reliance Infratel.

    August 19, 2011 / 20:45 IST
       
       
      26 Aug, 2025 12:21
      Volume
      Todays L/H
      More

      Billionaire Anil Ambani's Reliance Communications has hired UBS to sell its 95% stake in tower unit Reliance Infratel and has reached out to several strategic and private-equity firms, including Blackstone and UAE's Etisalat, asking for USD 5 billion for the stake, three sources with direct knowledge said.


      Potential bidders have said Reliance's valuation of the stake is at least a billion dollars too high, two of the sources said, adding that the process was still in a very early stage.


      UBS has reached out to US companies American Tower and Crown Castle International, India's Viom Networks and UAE's Etisalat , said the sources, who declined to be identified because the process is not public yet.


      The bank has also reached out to private-equity firms Carlyle, Apax Partners and Blackstone, the sources said.


      UBS declined to comment. Reliance Comm was not immediately available for comment.

      first published: Aug 19, 2011 01:40 pm

      Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

      Subscribe to Tech Newsletters

      • On Saturdays

        Find the best of Al News in one place, specially curated for you every weekend.

      • Daily-Weekdays

        Stay on top of the latest tech trends and biggest startup news.

      Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347