RCom, GTL Infra deal !

The Boards of Reliance Communications Ltd. (RCOM), and its subsidiary, Reliance Infratel Ltd. and GTL Infrastructure Ltd. (GTL INFRA) Sunday in-principle approved a Rs. 50,000 crore (USD 11 billion) deal to create the world’s largest independent telecom infrastructure company, neither owned nor controlled by any telecom operator.

On June 23, CNBC-TV18, quoting VCC Circle had reported that GTL Infrastructure and Reliance Infratel are in talks to merge their tower operations.

The transformational deal will be implemented through a demerger of RINFRATEL’s tower assets into GTL INFRA. Reliance Infratel will demerge its tower assets into GTL Infra fibre optic network. The related assets will however remain with RCOM.

via CNBC