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Reliance Comm talks in progress on unit stake sale - chairman
August 27, 2013 / 8:43 AM / 4 years ago

Reliance Comm talks in progress on unit stake sale - chairman

MUMBAI (Reuters) - Reliance Communications Ltd’s (RLCM.NS) talks with potential partners for selling a stake in a unit that includes its undersea cable assets are in progress, Chairman Anil Ambani told shareholders on Tuesday.

A customer leaves a Reliance communication store in Ahmedabad January 23, 2013. REUTERS/Amit Dave/Files

    He did not name any possible suitor.

    Reliance Communications, India’s third-biggest mobile phone operator by customers, said in April it was in talks with a private equity consortium that included Samena Capital for the stake sale, after talks with Bahrain Telecommunications Co (Batelco) BTEL.BH fell through.

    Reporting by Indulal PM; Editing by Gopakumar Warrier

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