RComm tower arm in advanced talks for infra sharing deal - exec
NEW DELHI (Reuters) - Mobile phone carrier Reliance Communications Ltd's (RLCM.NS) telecommunications tower arm is in "advanced" stages of discussions with three carriers for "a large" infrastructure sharing deal, a senior company executive told analysts on a conference call.
Gurdeep Singh, chief executive of Reliance Communications' wireless business, did not give any further detail.
Singh said it was "premature" to comment on contours of any potential deal, when asked if the company was open to lease out its towers to Reliance Industries Ltd (RELI.NS) at a discount to market price.
Reliance Industries, controlled by India's richest man Mukesh Ambani, holds 4G permits for all of India, and has long been expected to take Reliance Communications towers on rent to roll out high-speed Internet services.
(Reporting by Devidutta Tripathy, editing by Anurag Kotoky)
- Tweet this
- Share this
- Digg this
India threatened on Friday to block a worldwide reform of custom rules, which some estimates say could add $1 trillion to the global economy and create 21 million jobs, prompting a U.S. warning that its demands could kill global trade reform efforts. Full Article