After months of negotiations, Anil Ambani's plan to sell his tower business has reached the final lap. Private equity giants Blackstone and Carlyle Group have signed a term sheet to buy up to 95 per cent stake in Reliance Infratel. The term sheet was signed a few weeks ago. Reliance Communications (RCom), which controls Infratel, owns nearly 50,000 towers across the country and the valuation of the deal has been pegged at Rs 15,000-20,000 crore, based on a mutually acceptable formula, sources in the know say. Based on this value, RCom will get Rs 31-41 lakh a tower, substantially less than the nearly Rs 1.2 crore a tower the company got by selling five per cent stake to sundry investors in 2007.
Source: Business Standard
No comments:
Post a Comment