George Soros takes stake in RCom tower biz

US-based investor George Soros along with six other investors have taken a 5% stake in Reliance Telecom Infrastructure (RTIL), the tower business of Reliance Communications (RCom), for Rs 1,400 crore.

The other investors to have acquired stake in RTIL include Fortress Capital, Galleon, GLG Capital, HSBC, DA Capital and Newsilk. The stake sale values RTIL at $6.75 billion.

The company has also initiated discussions with three US tower companies for selling an additional 26% stake.