For Quick Alerts
For Daily Alerts

RCom in talks with Batelco to sell 80% stake in Reliance Globalcom

By Religare

Reliance Communications is in advanced stages of talks with Bahrain Telecommunications (Batelco) for selling 80 per cent stake in its step-down subsidiary Reliance Globalcom for around 6,000 crore.

As per the media reports, "Reliance Communications is in advance stage of discussion with Bahrain Telecommunications. RCom is expecting Rs 5,000-6,000 crore from 80 per cent stake sale. It (deal) is expected to close by end of May."

Last month, RCom had said that it was in "discussions with Batelco Group" with respect to Reliance Globalcom. "At this point, there can be no certainty that this will lead to a transaction," it had said.


According to the reports, RCom is planning to use the proceeds to lower debt burden which stood at around Rs 37,360 crore as on December 31, 2012, sources said.

Read more about: reliance communications
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more