MUMBAI (Thomson Financial) - India's second-biggest mobile services provider, Reliance Communications Ltd, said seven investors have bought a 5 pct stake in its tower business company for 14 bln rupees.
The buyers are Fortress Capital Investors LLC, HSBC Principal Investments, Galleon Group, George Soros' Quantum Fund, New Silk Route, GLG Partners and DA Capital Management LLC.
Reliance Communications said the share sale values the tower business company, Reliance Telecom Infrastructure Ltd, at around 270 bln rupees.
Reliance Communications' chairman Anil Ambani, in a statement, reiterated the plan to seek opportunities for unlocking of value through an initial public offer and/or strategic sale. TFN.newsdesk@thomson.com yos/jro/bsd COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
© 2007 AFX News
