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rcom brookfield deal

Chakri K November 4th, 2017 7:41 PM 21 COMMENTS

Brookfield Lapses Deal With RCom After Aircel Merger Called Off

Brookfield Infrastructure, one of the largest telecom asset management company has called off its agreement with the Anil Ambani-led telecom operator Reliance Communications. The deal was worth $200 million, and the reason behind the deal is RCom’s lapsed merger deal with Aircel last month. “The merger will not proceed and therefore our transaction as previously announced will not proceed either. However, we continue to monitor the evolving situation to determine... Read More

Chakri K May 30th, 2017 4:06 PM 11 COMMENTS

Reliance Communications Assures Lenders Repayment of Rs. 25,000 Crore

Reliance Communications, the Anil Ambani-led telecom operator, said that it has formally advised all its lenders that it will be making repayment of an aggregate amount of Rs 25,000 crore from the proceeds of Aircel and Brookfield transactions. "The said amount will cover not only all scheduled repayments but also include substantial pre-payments to all lenders on a pro-rata basis," RCom spokesperson stated in a statement. RCom said that it... Read More

Rudradeep Biswas May 2nd, 2017 12:52 PM 4 COMMENTS

Reliance Infratel Limited Receives Approval from Shareholders for Demerger of Tower Arm to Brookfield for Rs. 11,000 Crore

Reliance Infratel Limited (RITL), a subsidiary of Reliance Limited Communications (RCom) has received approval from its shareholders at a meeting held on April 29, 2017, for demerger of the Tower division of the RITL into Towercom Infrastructure Private Limited (TIPL), a subsidiary of Brookfield Infrastructure Group. Under the order of National Company Law Tribunal (NCLT), shareholders have approved 98 percent majority of Scheme of Arrangement for the demerger. Upon the... Read More

Chakri K March 23rd, 2017 11:50 AM 3 COMMENTS

RCom gets CCI approval for sale of towers to Brookfield

Reliance Communications on Thursday said that it has received approval from the Competition Commission of India (CCI) for the sale of the Tower Division of Reliance Infratel Limited to Brookfield Infrastructure Group. The sale will be carried out pursuant to a demerger of the Tower Division to Towercom Infrastructure Private Limited (Towerco), which will be the second largest independent and operator-neutral towers company in India after Indus Towers. Upon the... Read More

Ria Lakshman December 22nd, 2016 1:42 PM 0 COMMENTS

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