Reliance Communications may receive a number of preliminary offers for a controlling stake in its tower business from a combination of strategic and private equity investors. The operator has initiated an auction process, assisted by UBS.
Viom Networks, a telecom tower joint venture between Tata Teleservices Limited and Quippo has confirmed its interest in Reliance Infratel’s towers.
Other potential bidders for a controlling stake in Reliance Infratel include American Tower Corporation and Etisalat. UBS is also said to have approached buyout funds Carlyle and Apax Partners on behalf of Reliance Communications.
