Reliance Infra Gets Bids For Stake Sale

Reliance Communications has obtained offers from several companies to acquire a stake in its telecom tower business Reliance Infratel.

Reliance Communications has obtained offers from several companies to acquire a stake in its telecom tower business Reliance Infratel, The Wall Street Journal reports. The company is seeking to sell the stake to cut its $7.12 billion debt burden. The names of the interested parties have not been disclosed. Previously, a $9 billion deal to sell the telecoms tower business to GTL Infrastructure was cancelled in September 2010, adds Financial Times.

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