New Delhi, May 31 (IANS) Leading mobile services provider Reliance Communications, part of the Anil Dhirubhai Ambani Group (ADAG), Tuesday said it has received offers from several companies for acquiring its controlling stake in its infrastructure subsidiary — Reliance Infratel.
‘The board of directors was informed of the receipt of formal indicative offers from several interested parties, for the acquisition of RCOM’s controlling interest in Reliance Infratel Limited, its passive infrastructure subsidiary,’ the company said in a statement.
Reliance Infratel is an independent wireless telecommunications infrastructure company, engaged in the business of building, owning and operating communications towers and optic fibre cable. It owns nearly 50,000 towers, and 200,000 route kilometres of national optic fiber network.
Based on the indicative offers, completion of such a transaction would facilitate RCOM’s stated objectives of achieving a substantial reduction of its overall debt position, and staying well within its target long-term leverage ratios, the ADAG firm added.
The company said it would conduct the due diligence on the offers and try to complete such a potential transaction at the earliest.
