RCom drops Batelco for talks with Samena on Globalcom sale

News Broadband India 22 APR 2013
RCom drops Batelco for talks with Samena on Globalcom sale
Indian operator Reliance Communications (RCom) has confirmed it is in advanced talks with a Samena Capital-led consortium to sell its international subsidiary Reliance Globalcom. Samena is already conducting due dligence, and the companies aim to complete a deal by the end of May. RCom also said it is no longer in talks with Batelco on the possible sale of Globalcom. Bahrain-based Batelco said in March that it was in talks to acquire the international carrier. RCom is looking to sell the activities in order to reduce debt.

Categories:

Fixed

Companies:

Batelco,  Reliance Communications,  Reliance Globalcom,  RCom

Countries:

India

Tags:

M&A buyouts & divestments

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