RCom sells tower assets to Brookfield for over INR 110 bln

Thursday 22 December 2016 | 06:49 CET | News
Indian operator Reliance Communications (RCom) has signed agreements with Brookfield Infrastructure in relation to the acquisition of RCom's nationwide tower assets by affiliates of Brookfield Infrastructure Partners and its institutional partners. RCom will receive an upfront cash payment of INR 110 billion (approximately USD 1.6 billion) on completion of the transaction. RCom will also receive Class B non-voting shares in the new tower company, providing 49 percent future economic upside in the Towers business, based on certain conditions.

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Categories: Fixed
Companies: Aircel / RCom / Reliance Communications / Reliance Jio
Countries: India
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