Money Control | March 21, 2011
Tough times call for tough measures. With the turmoil in the telecom sector taking a toll, sources told CNBC-TV18’s Kritika Saxena that Reliance Communications has cut the valuations of its tower arm Reliance Infratel down by almost Rs 10,000 crore from the failed deal with GTL.
RComm is looking at a base bid price of around Rs 16,000 crore for its entire tower operation. (The GTL deal was expected to fall approximately between Rs 26,000 crore and Rs 30,000 crore.) With 50,000 towers at present, the amount translates intoapproximately Rs 32 lakh for each tower.
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