Reliance to sell 51% telecom tower stake for ₹11k cr
Anil Ambani-led Reliance Communications has agreed to sell a 51% stake in its mobile-phone tower business to Canada-based Brookfield for ₹11,000 crore, one of the largest FDI in infrastructure sector. The deal comes amid intensifying competition pushing Reliance Communications shares down 46% this year. Notably, Reliance is selling assets to pay loans amid attempts to be net-debt free by 2017. 