R-Com to sell tower assets to PE firms TPG, TGH
Posted on 4th December 2015 |
.jpg) |
| Reliance Communication (R-Com) board today approved sale of its tower unit to private equity buyout group TPG Capital and Tillman Global Holdings (TGH). Though the amount of deal was not disclosed by the company, independent estimates put the asset value at around Rs 20,000-Rs 21,000 crore. The company signed a non-binding agreement with the combined entity today to sell assets of Reliance Infratel before January 15, 2016. To carry forward the deal, R-Com will spin off a special purpose vehicle (SPV) to be owned completely by the combined entity for smooth transfer of assets from Reliance Infratel to the SPV. Post the transfer of assets, R-Com will continue to remain as an anchor tenant on the tower assets, under a long term agreement, for its integrated telecommunications business, the company said in a statement to the exchanges. Apart from the tower sale, Tillman and TPG are also considering to buy R-Com's nationwide inter-city and intra-city optic fibre assets in a separate transaction, the company said. |
|
|
|
|
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
.jpg) |
Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
|
|
Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
.jpg) |
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
|
|
LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
.jpg) |
In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
|
|
Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
.jpg) |
Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
|
|
World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
.jpg) |
In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
|
|
|
|
| Be the first person to write a business review for R-Com to sell tower assets to PE firms TPG, TGH |
|
|
|
