RCom plans to sell its stake to reduce debts

Reliance Communications Ltd (RCom) is following Bharti Airtel’s footstep to reduce its debts, by selling a stake in its telecom towers unit. The company has invited proposals from bankers, revealed RCom in a filing to BSE.

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“The company has invited certain investment banks to make proposals for running a process to monetize the valuable tower and fibre assets held in its subsidiary, Reliance Infratel Ltd within the current financial year,” report said.

It already announced plans to reduce its debts and was considering strategic alternatives to perform the same. Anil Ambani-owned RCom reported a consolidated debt of Rs.31,839.00 crore as of September 2014.

Also read: Reliance Jio and Bharti Infratel Join Hands in Tower Infrastructure Sharing

There were other reports that said RCom is planning to sell a stake in Reliance Infratel Ltd at a valuation of Rs.20,000 crore-25,000 crore. For the purpose, RCom has sought reports from top investment bankers such as Morgan Stanley, Bank of America Merrill Lynch and JM Financial among others.

Reliance Infratel owns 45,000 towers and more than 120,000 km of inter and intra circle fibre. It is the third largest tower company after Indus Towers and Bharti Airtel.

During February, Bharti Airtel too raised $310 million through a secondary share sale in its mobile tower unit Bharti Infratel Ltd, which the company used primarily to reduce debt.

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14 Comments on "RCom plans to sell its stake to reduce debts"

 

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Sunny
May 12, 2015 7:11 pm 7:11 PM

Reliance GSM Tamilnadu Circle has revised the data offering of Rs.9 from 1GB to 650MB valid for one day.
They have also launched new FRC 52 offering Local & STD mobile calls at 30 paise/min, 100MB data (valid for one month), 99 SMS free valid for 90 days.

marti
May 12, 2015 2:32 pm 2:32 PM
The best solution is to merge RCOM and RJIO and beat the market with world class digital service for reasonable price do the following, 1. Their network should be available any corner of India, if there are population more than 1000. 2.Innovated customer interaction portal to do any kind of service thus avoiding face to face interaction with executives. This help customer to know their up-to-date callhistory,unbilled amount,data charges,usage Alerts,plan changes,address change,payments,balance query,recharge other complaints and resolving time,contact person,service status and many more possible. 3.Timely action and constant monitoring of network issues across country and a dedicated team for this.… Read more »
raj
May 12, 2015 2:27 pm 2:27 PM

I sugest to Anil ambani, 100% share value handover to Mukesh ambani, otherwise Dhirubani ambani soul suffering he is the founder

Shashi
May 12, 2015 5:21 pm 5:21 PM

Anil showing looss as he don’t need to pay taxes on it . As I know they opens 100 sister cos and close it after loss and help to them carry forward loss , so no tax pay. And if Rjio if take over Rcom then there are more sweet deal , buze there are ‘Amalgamation ” benefit of tax atleast 5-10 yrs . But they need to carry such business if they took over Rcom at. least for 4-5 yrs to take benefit of tax.

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