Telecom tower (Photo by W Rorrkychand Sing/Tonseblog.com)

RCom Signs Cellular Towers Deal with Tillman Global Holdings and TPG Asia

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Reliance Communications sins  non-binding Term Sheet with Tillman Global Holdings, LLC and TPG Asia, Inc. in relation to the proposed acquisition of RCOM’s nationwide tower assets and related infrastructure by Tillman and TPG. Under the agreement cellular tower assets will be transferred from Reliance Infratel Ltd. (RITL) on a going concern basis into a separate SPV, to be owned 100% by Tillman and TPG. RCOM will continue as an anchor tenant on the tower assets, under a long term MSA, for its integrated telecommunications business. RCOM intends to utilize the proceeds of the proposed transaction only to reduce its debt.

Tillman and TPG will also evaluate purchase of RCOM’s extensive nationwide inter-city and intra-city optic fibre assets, in a separate and independent transaction. Read more

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Sweekar S

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