MUMBAI, June 27 (Reuters) - Reliance Communications , India's No. 2 cellphone carrier, was close to a deal to sell its tower operations to GTL Infrastructure, people with direct knowledge of the matter said on Saturday.
A deal could be announced as soon as Sunday, they said. No financial details were immediately available.
Debt-laden Reliance Communications, controlled by billionaire Anil Ambani, earlier this month announced a plan to create an independent tower unit. It had previously planned to spin-off its 95 percent-owned telecoms infrastructure arm, Reliance Infratel, through an initial public offering.
Newspapers have reported that Reliance Comm could combine its tower business with India's GTL Infrastructure.
Reliance Comm could not be reached for comment, and GTL Infrastructure declined to comment.
(Reporting by Rajesh Kurup; Writing by Tony Munroe)
((tony.munroe@thomsonreuters.com; +91 22 6636 9257; Reuters Messaging: tony.munroe.reuters.com@reuters.net)) Keywords: RELIANCECOMM GTL/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
A deal could be announced as soon as Sunday, they said. No financial details were immediately available.
Debt-laden Reliance Communications, controlled by billionaire Anil Ambani, earlier this month announced a plan to create an independent tower unit. It had previously planned to spin-off its 95 percent-owned telecoms infrastructure arm, Reliance Infratel, through an initial public offering.
Newspapers have reported that Reliance Comm could combine its tower business with India's GTL Infrastructure.
Reliance Comm could not be reached for comment, and GTL Infrastructure declined to comment.
(Reporting by Rajesh Kurup; Writing by Tony Munroe)
((tony.munroe@thomsonreuters.com; +91 22 6636 9257; Reuters Messaging: tony.munroe.reuters.com@reuters.net)) Keywords: RELIANCECOMM GTL/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.