RCom creates new infra subsidiary Towercom
Anil Ambani-led telecom operator Reliance Communications (RCom) on Thursday said it has created a subsidiary, Towercom Infrastructure. Towercom has subscribed 95% share capital, which is 9,500 shares of ₹10 each, RCom said. Earlier, RCom had announced the sale of 51% stake in its telecom tower business to Canada-based Brookfield Infrastructure Group for an upfront cash payment of ₹11,000 crore.