Mergers and Acquistions News
Categories: Telecoms
July 1st 2010, 19:22PM
Private equity may not be required for the multi-billion pound sale of Reliance Communications' telecoms tower business to GTL Infrastructure, it has been reported.
The two Indian firms agreed the $11 billion (£7.3 billion) deal this week and the GTL chairman believes that private equity funding should not be required, Reuters reported.
Manoj Tirodkar told the news service: "At this stage, it [funding] may not be required. But we will see as we move along, because many people are approaching us."
He added that if a suitable private investment proposal were put forward, it would be considered.
Reliance Communications, which is owned by Anil Ambani, is struggling with a tower of debt and the deal is aimed at paying off some of its bills.
Meanwhile, reports in the Times of India suggest that the firm is close to a deal to combine its pay TV services with Digicable Network (India).
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