Telecom operator Reliance Communications is in talks with American Tower Company (ATC) and Carlyle to sell majority stake in its tower subsidiary Reliance Infratel in the current financial year.
In a clarification to the BSE over media report that said ATC and Carlyle lead race for majority stake in Reliance Infratel, RCom said, "Company has started a process to monetise the valuable tower and fibre assets held in its subsidiary, Reliance Infratel Limited, within current financial year." "We wish to state that the said process is continuing," the filing said.
Sources, however, separately said that the company is in talks with ATC and Carlyle along with others for selling majority stake in Reliance Infratel.
The exchange had sought clarification from RCom with respect to media report the operator was in talks for sale of majority stake in tower business under Reliance Infratel.
The report said that ATC and Carlyle were leading race to buy 51 percent stake in Reliance Infratel for about Rs 20,000-24,000 crore. Reliance Infratel has about 45,000 mobile towers.
"The company will make further disclosures, as and when these developments lead to a disclosable event," RCom said. Shares of RComm on Monday closed at Rs 61.8 a unit, up by 0.24 percent compared to previous close at BSE.
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!
