RCom talks on for unit stake sale, says Anil Ambani

RCom said in April it was in talks with a private equity consortium that included Samena Capital for the stake sale

Reliance Communications’ talks with potential partners for selling a stake in a unit that includes its undersea cable assets are in progress, Chairman Anil Ambani told shareholders on Tuesday.

He did not name any possible suitor.

The company, India’s third-largest mobile phone operator by customers, said in April it was in talks with a private equity consortium that included Samena Capital for the stake sale, after talks with Bahrain Telecommunications Co fell through.