In a bid to unlock value, Reliance Infratel, the tower company of RCOM, is planning to offload 5 per cent of its equity stake. -

In a bid to unlock value, Reliance Infratel, the tower company of RCOM, is planning to offload 5 per cent of its equity stake. The firm is learnt to be in discussions with seven global strategic investors and is expecting as much as $500 million through the sale.

According to sources, Boston-based American Tower International and US-based Crown Castle International have emerged as the two frontrunners for the stake. Reliance Infratel plans to use the money from the stake sale to fund its growth and set up new towers.

Currently, Reliance Infratel has 46,000 operational towers.

In a bid to unlock value, Reliance Infratel, the tower company of RCOM, is planning to offload 5 per cent of its equity stake.

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