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Reliance Industries Ltd's Unit In Talk To Buy Reliance Communications Ltd's Reliance Infratel Limited-DJ


Friday, 25 Jan 2013 12:35am EST 

Dow Jones reported that Reliance Industries Ltd's telecom unit Infotel Broadband is in talks to buy a stake in Reliance Communications Ltd's telecom-tower business, the Economic Times newspaper reported. Infotel Broadband may buy a 15%-25% stake in Reliance Infratel Limited in a deal that will value the Reliance Infratel's telecom-tower business at between $3.5 billion and $4 billion. If the deal happens it will see Reliance Communications receive between INR28.50 billion and INR53 billion which it will use to repay debt. Reliance Infratel is also discussing leasing its about 50,000 towers to Infotel Broadband for 10 years for between INR85 billion ($1.58 billion) and INR100 billion.