Carlyle and Blackstone sign a term sheet to purchase 95 per cent stake in Reliance Infratel

After several rounds of negotiations, Reliance Communications has nearly concluded the process selling its tower business, say news reports.

It is believed that Blackstone and Carlyle Group have signed a term sheet to buy up to 95 per cent stake in Reliance Infratel. The value of the deal is estimated to be around Rs 150-200 billion.

With this, RCOM hopes to reduce around Rs 350 billion of net debt and Rs 225 billion-275 billion of leverage from its books.