Anil Ambani, chairman, Reliance Communications, today announced unlocking value of the tower company, Reliance Telecom Infrastructure, by selling 5% stake based on a valuation of Rs 27,000 crore.
The value of the tower business has been pegged at Rs 135 per share, Ambani said.The transaction will result in a cash inflow of Rs 1,400 crore.Ambani said that more infrastrcture was needed to keep adding over seven million customers per month.
The company would have 100,000 tenancy rights by March 2008, he added.
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