Reliance may lease towers from RCom | business | Hindustan Times
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Reliance may lease towers from RCom

business Updated: Jan 25, 2013 23:07 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Mukesh Ambani-led Reliance Industries Ltd (RIL) is in talks with Reliance Infratel owned by younger brother Anil Ambani for leasing its 50,000 towers.

Reliance Infratel is a subsidiary of Reliance Communications (RCom), a pan India telecom service provider with huge debt of R36,700 crore.

RIL may offer up to R8,000 crore for leasing towers for a period of 10 years, said sources.

The company is entering into providing high-speed wireless broadband services based on the LTE-technology through its subsidiary RIL Infotel. The subscribers would be able to get a download speed of up to 100 Mbps.http://www.hindustantimes.com/Images/Popup/2013/1/26-01-13-piz-03.jpg

“As of now there is no proposal to infuse equity into Reliance Infratel. The company. However, is in talks for long lease of towers,” said a person familiar with the development.

“Reliance Industries is the only pan-India 4G spectrum owner. The service rollout is reported to be in 2013 and its best option remains to lease towers from Reliance Infratel,” according to a report by brokerage firm CLSA. “Incremental tenancies will improve RCom’s financial health.”