Reliance in talks for creating telecom tower company

Reliance Communications is reportedly in talks with two US based companies to fund its aspiration of building a company unit that would be engaged in creating a telecoms tower company. This would free Reliance itself from creating the infrastructure and they can concentrate on building the communication business.

According to the report, two private equity groups named Blackstone and Carlyle are in talks with Reliance to fund up to $1 billion to create this unit. Two other tower management company are also on table to take stake in this new company.

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