Anil Ambani's Reliance Communications has yet again received offer from many companies to acquire a controlling stake in its telecom tower unit.
Country's second largest mobile phone operator by subscribers, said it had “received formal indicative offers from several interested parties” for Reliance Infratel, although it would not name them. The release was issued today on the domestic stock exchanges.
The announcement comes just a day after RCom reported its seventh consecutive fall in quarterly profits and a drop in full year profit.
Last year, Ambani had secured a $9 bn agreement to sell the telecoms tower business to GTL Infrastructure. The deal, however, collapsed last September amid suggestions that the two had disagreed over price.
That deal would have helped reduce RCom’s net debt, just over $7bn as of the end of March 2011. Even Etisalat of the United Arab Emirates has been looking to buy a stake in the Indian group once its tower unit is sold.
