The world's largest independent telecom masts player GTL Infrastructure on Wednesday said its expects to complete the merger of Reliance Infratel's tower operations with itself by the middle of next month.
Reliance Communications, whose board on Tuesday approved the proposal for Reliance Infratel IPO, would also consider fund raising through qualified institutional placement basis at an appropriate time.
As of March 31, 2010, RCom held a 89.71 per cent stake in Reliance Infratel.
On June 27, the boards of GTL, RCom and its subsidiary Reliance Infratel Ltd had given in-principle approvals to the Rs 50,000-crore ($11 billion) merger deal to create the world's largest independent telecom infrastructure company, neither owned nor controlled by any telecom operator.
Reliance Infratel, the tower business of Anil Ambani-controlled Reliance Communications, is learnt to be in talks with another tower firm GTL to part-sell its stake and also combine the businesses of both entities.
Reliance Communications, India's second-biggest mobile operator, has decided to demerge its telecom tower business -- Reliance Infratel (Rel Infra). The company's board has approved a proposal to restructure the ownership of the tower firm to help create an independent tower company.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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