Aiming to reduce its debt, Reliance Communications (RCOM) is planning to sell stake in its submarine cable business unit, Reliance Globalcom and direct-to-home business. Currently, the company is in talks with various stakeholders to sell its stake in the two businesses.
In addition, RCOM is working closely with bankers to securitise the future proceeds from a network-sharing deal with a unit of Reliance Industries. The deal is expected to generate funds worth $1 billion for the operator.
