Idea Cellular may sell 26 per cent stake in its tower arm, according to news reports.

Further, it is believed that the proceeds of this sale will be used by the operator to pay its debts. Three bankers have allegedly been appointed to identify potential buyers.

Prior to this, Reliance Communications (RCOM) is believed to have asked UBS to find a buyer for its stake in Reliance Infratel, for around $5 billion. Further, UBS had allegedly approached American Towers, Crown Castle International, Viom Networks, UAE?s Etisalat and private-equity firms Carlyle, Apax Partners and Blackstone for the same.

Currently, RCOM?s debt is around Rs 330 billion.