Temasek to pick up equity stake in Reliance Infocomm unit

New Delhi, Nov 15 (UNI) Temasek, the investment arm of Singapore state is planning to pick up 30 per cent equity in TowerCo, the 100 per cent subsidiary of Anil Ambani owned Reliance Communications (RCOM), industry sources today said.

The talks are on between the two groups and if the deal goes through, sources say it will rank among the country's largest private equity (PE) deals.

RCOMM has said it would offload five to 10 per cent stake in TowerCo to Boston based American Tower Corporation (ATC), the world's largest telecom tower management company.

Temasek will be the second foreign investor in RCOMM if talks goes through.

RCOMM has about 15,000 cell sites or towers and plans to expand into another 10,000.

ATC enjoys a market capital of 15.04 billion dollars with 30,000-odd towers spread across North and Latin America and the second largest tower management company, Crown Castle has a 6.6 billion dollars market capitalisation and owns 12,800 cell sites.

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