Friday, December 4, 2015

DEBT RIDDEN RCOM TO SELL ITS TOWER, OPTIC FIBER ASSETS

Debt ridden Reliance Communications has signed a pact to sell its tower and optic fibre assets in India to private equity firms TPG and Tillman Global in a deal estimated at about Rs 30,000 crore.

RCOM intends to utilise the proceeds of the proposed transaction to reduce its debt, which is estimated at about Rs 40,000 crore.

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