RCom tower unit attracts renewed interest – report

first_img Tags Related Previous ArticleT-Mobile US reports 14% revenue growth, turns a profitNext ArticleFrench regulator green lights Orange, SFR spectrum refarming IndiaRcomtowers Author HomeAsiaNews RCom tower unit attracts renewed interest – report AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 31 JUL 2015 Reliance Communications’ (RCom) up-for-grabs tower unit is reportedly gauging renewed interest from a host of parties, including three US private equity firms, as well as industry players Bharti Infratel and American Tower Corp.The company first announced in May it was looking to sell a majority 51 per cent stake in Reliance Infratel, India’s third largest tower company with approximately 45,000 towers.The unit, which also boasts India’s largest fibre network, is reportedly valued by the company at approximately $4 billion.According to Reuters, private equity groups Blackstone, Carlyle Group, and Providence Equity Partners have all expressed interest over a possible deal.On the industry side, domestic rival Bharti Airtel’s tower unit Bharti Infratel and American Tower Corp are other potential suitors.In June, RCom reportedly received bids for the unit from five or six companies, including Carlyle and American Tower, but there were no further developments.Airtel, however, was not rumoured to be in the running at the time. In February, the company itself offloaded a chunk of its own tower unit to raise $300 million in funds for debt reduction.A spokesman for the company told Reuters in a statement: “We keep evaluating options on an ongoing basis and are open to opportunities provided there is a strategic fit”.Anil Ambani-owned Reliance Communications said in its May regulatory filing it wanted to complete the divestment by March 2016.center_img India to shun China vendors in 5G trials Asia Indosat nears deal to offload 4,000 towers Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >> Read more Kavit Majithia India adds detail on network equipment restrictionslast_img