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RCom reworking $1.7 bn tower assets stake sale after failed Aircel deal

RCom, controlled by billionaire Anil Ambani, said on Sunday it is reassessing debt repayment options

Reuters  |  MUMBAI 

Reliance Communications is reworking a planned $1.7 billion stake sale in its tower assets after scrapping a proposed merger of its wireless arm with smaller rival Aircel, as its shares tumbled to an all-time low. RCom, as the company is known, said it is in talks with Canada's Brookfield to sell all of its tower arm, instead of a 51 percent stake sale agreed previously, Business Standard and Hindu Business Line newspapers reported, citing Punit Garg, an executive director at the Indian telecoms carrier. Brookfield, which was to pay 110 billion rupees ($1.7 billion) for the ...

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First Published: Tue, October 03 2017. 13:12 IST