Reliance Communications moves closer to the sale of Reliance Infratel
Sanjiv Ahuja’s Tillman Global Holdings and TPG team up to acquire Reliance Infratel for a reported US$3.3bn
The pace of potential major transactions in India continues with Reliance Communications’ announcement this week of the pending sale of Reliance Infratel, which owns India’s third largest tower portfolio (~52,000 towers), also the fourth largest in the world. The process of finding a buyer began midway through the year as Reliance Communications looked for options to decrease its debt and improve cash flow to support infrastructure rollouts and bids for 4G spectrum.
Reliance Communications entered a non-binding exclusivity agreement with Tillman Global Holdings and TPG Asia for the sale of RCOM’s Indian tower portfolio and related infrastructure.