GTL Infra, Rel Comm tower business deal on target

NEW DELHI, July 30 (Reuters) - GTL Infrastructure Ltd (GTLI.BO) and Reliance Communications (RLCM.BO) are on schedule to close the deal to merge their telecoms tower businesses, a top GTL official said on Friday. "We are on target. We originally said it could take 4-6 months and we are on target," GTL Chairman Manoj Tirodkar told reporters.

Last month, GTL and Reliance Comm, India's second biggest cellphone operator,agreed to combine operations that would own more than 80,000 towers and have an enterprise value of over $11 billion. [ID:nSGE65Q00S] (Reporting by Devidutta Tripathy; editing by Surojit Gupta)