Anil Ambani-led Reliance Communications (Rcom), which received market regulator SEBI approval to raise up to $1 billion via an initial public offering of its tower unit Reliance Infratel, may first go for a stake sale in its tower unit to improve the telecom firm's valuations, according to a Livemint report.
The stake sale in the towers business would precede the proposed disinvestment of as much as 26% of Reliance Communication to strategic or private equity investors, the report quoted an unidentified person as saying.
Source: RTT News