Debt servicing: Reliance Communications sells tower business to Brookfield Infra for Rs 11,000 crore
Debt servicing: Reliance Communications sells tower business to Brookfield Infra for Rs 11,000 crore
KEY HIGHLIGHTS:
RELIANCE COMMUNICATIONS SIGNS BINDING AGREEMENTS WITH BROOKFIELD INFRASTRUCTURE AND ITS INSTITUTIONAL PARTNERS FOR SALE OF ITS TOWERS BUSINESS
LARGEST EVER INVESTMENT BY ANY OVERSEAS FINANCIAL INVESTOR IN THE INFRASTRUCTURE SECTOR IN INDIA
RCOM AND RJIO TO CONTINUE AS MAJOR LONG TERM TENANTS
RCOM TO UTILISE CASH RS. 11,000 CRORE (US$ 1.6 BILLION) SOLELY TO REDUCE DEBT
RCom jumped over 8% and were trading at Rs 38 per share at 1257 hours on BSE Sensex.
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