RCOM is planning to sell another 5 per cent stake in its tower subsidiary, Reliance Telecom Infrastructure Limited (RTIL).

RCOM is planning to sell another 5 per cent stake in its tower subsidiary, Reliance Telecom Infrastructure Limited (RTIL). JP Morgan, the financial adviser for the transaction, has invited bids for the same. The bidders are likely to be financial investors such as hedge funds and institutional firms. In July 2007, RCOM divested 5 per cent stake in RTIL for $337.5 million, valuing the company at $6.75 billion. For the second round of divestment, the operator is expecting to fetch an amount that will value RTIL at about $9 billion.