Reliance Communications (RCOM) said it is continuing to evaluate proposals for a stake sale in its tower business, but is generating enough funds to take care of its operational capital expenditure. Hampered by debt and falling profits, the operator is looking for fund raising options. It has plans to sell 26 percent of the company and is also in talks to sell a stake in its tower unit.
During an investor call, Arvind Narang, head, investor relations commented that for Reliance Infratel, RCOM is continuing to look at value for all stakeholders. Where value is right, the operator will strike a deal. Meanwhile, the company plans to meet all its funding requirements from internal accruals and is currently cash flow positive.
