Reliance Comm to announce tower deal with STel: report

Reliance Comm to announce tower deal with STel: report
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First Published: Thu, Aug 27 2009. 09 14 AM IST
Updated: Thu, Aug 27 2009. 09 14 AM IST
New Delhi: Reliance Communications, the country’s no.2 mobile operator, is looking to sign a 10-year tower-sharing agreement worth up to Rs10 billion($205 million) with nascent local telecoms operator STel, the Economic Times reported on Thursday, citing unnamed officials.
The paper said the deal was likely to be announced on Thursday and would bring in about Rs800 million to Rs1 billion in annual revenue for Reliance Communications.
STel, in which Bahrain Telecommunications Co (Batelco) agreed to buy a 49% stake in January, would have access to 10,000 of Reliance Communication’s 50,000 towers, the paper said.
Reliance Communications could not be reached immediately for a comment.
Reliance Communications last month signed a 10-year tower-sharing deal worth more than $2 billion with Etisalat’s India joint-venture telecoms firm.
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First Published: Thu, Aug 27 2009. 09 14 AM IST