je.st
news
RCom to sell 80% of Globalcom for INR 60 bln - report
2013-04-08 13:17:00| Telecompaper Headlines
(Telecompaper) Indian operator Reliance Communications (RCom) will sell an 80 percent stake in its international subsidiary Reliance Globalcom to a consortium led by Bahrain's Batelco for around INR 60 billion, reports The Times of India citing unnamed sources familiar with the matter. RCom confirmed last month it was in talks with Batelco on a possible deal. According to the report, RCom would retain a 20 percent share in the company for the first year, after which it would have the option to sell that as well. The paper's sources said this was to ensure continuity at the network operations centre in Navi Mumbai. Reliance Group officials declined comment. The deal with Batelco and a consortium of private equity groups is expected to be in place by the end of May.
Tags: report
sell
inr
bln
Category:Telecommunications