RComm tower arm in advanced talks for infra sharing deal - exec

NEW DELHI Thu Jan 24, 2013 1:29pm IST

A street vendor sells his goods beside a Reliance mobile phone store in Mumbai June 8, 2010. REUTERS/Reinhard Krause/Files

A street vendor sells his goods beside a Reliance mobile phone store in Mumbai June 8, 2010.

Credit: Reuters/Reinhard Krause/Files

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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)

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