Etisalat to get 25% stake in Reliance Communications
UAE's leading telecom operator, Etisalat is in talks with Reliance Communications to acquire 25% stake. The worth of the deal is estimated at INR. 18000 Cr. Rumors are that Etisalat will buy additional 20% directly from public once the initial acquisition is done.
Currently, Reliance Communications Chairman Mr. Anil Ambani holds about 67% stake in the company; which after the acquisition will come down to about 55%. However, the overall deal will help Reliance pump-up its paid-up capital by 25% and also strengthen its position in 3G services rollout. The company has already paid about INR. 8500 Cr. for 3G services. The company will have to pay even more to make the service available.
Source: UAE's Etisalat in talks to buy 25% stake in Reliance Communications - Times of India
Currently, Reliance Communications Chairman Mr. Anil Ambani holds about 67% stake in the company; which after the acquisition will come down to about 55%. However, the overall deal will help Reliance pump-up its paid-up capital by 25% and also strengthen its position in 3G services rollout. The company has already paid about INR. 8500 Cr. for 3G services. The company will have to pay even more to make the service available.
Source: UAE's Etisalat in talks to buy 25% stake in Reliance Communications - Times of India
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