Anil Ambani-led Reliance Communications (RCom) has once again initiated the process to fully or partly exit its telecom tower and fibre optic assets held under its subsidiary Reliance Infratel Ltd. to reduce its debt. Earlier attempts to monetise these assets had failed due to disagreement on valuation.
“We wish to inform you that as part of already announced plans to substantially reduce the company’s overall debt, the company keeps exploring and analyzing various strategic alternatives,” RCOM informed the stock exchange in response to a query.
“As one of such alternatives, the company has invited certain investment banks to make proposals for running a process to monetise the valuable tower and fibre assets held in its subsidiary, Reliance Infratel Ltd. within the current financial year. The company will make further disclosures, as and when these developments lead to a disclosable event,” RCom added.
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Reliance Infratel has 45,443 wireless telecom towers and approximately 1.20 lakh km intra and inter circle fibre optic network is the third biggest telecom tower operator after Indus Tower and Bharti Airtel.