Major sovereign wealth funds invest in RCOM?s undersea cable unit IPO -

Reliance Communications? undersea cable unit, Global Telecommunication Infrastructure Trust?s (GTI Trust) initial public offering (IPO) has been put on the fast track. As per news reports, Singapore-based Temasek Holdings, Dubai?s Investment Corp and China Investment Corp (CIC) have decided to invest $250-$300 million in same.

GTI Trust owns four subsea cable systems that carry internet traffic and data around the world. The IPO for RCOM is being managed by Deutsche Bank AG, DBS Group Holdings Limited, Industrial & Commercial Bank of China Limited and Standard Chartered Plc.

With the GTI Trust IPO, Reliance Communications is looking at raising funds to ease a debt load of $7 billion.

Major sovereign wealth funds invest in RCOM?s undersea cable unit IPO

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