Reliance Communications again seeks PE buyers for tower unit
Reliance Communications is courting private equity firms and strategic investors as it seeks to sell its 95% stake in tower unit Reliance Infratel. The company has hired UBS to arrange a sale and is looking to recoup $5 billion for the asset, Reuters reported, citing people familiar with the situation. Yet, potential bidders think the valuation is at least $1 billion too high.
The Carlyle Group, Apax Partners and Blackstone Group are the private equity players that have been approached. Potential strategic investors include American Tower, Crown Castle International, Viom Networks...
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