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 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.