RCom sells its tower business to Brookfield Infrastructure
Brookfield Infrastructure, along with its institutional partners, is buying the tower business of Reliance Communications (RCom) at an upfront payment of Rs. 11,000 crores in cash, announces a statement released by RCom. The transaction is subject to authority approvals. The binding agreement will de-merge RCom’s tower business into a separate business entity, owned by Brookfield Infrastructure. RCom will get ‘B’ class non-voting shares in the new business. Besides the non-voting shares,... Read More