Saudi Telecom Company, the Arab world’s largest telecom company by market value, may buy 10% to 15%stake in a newly created GTL-Reliance Infratel tower unit, the Business Standard reported on Tuesday.

The GTL-Reliance Infratel tower unit, formed after India’s No. 2 mobile operator Reliance Communications agreed to offload its towers to GTL Infrastructure, is likely to dilute its stake at a value of USD 9 billion, the paper said citing sources with direct knowledge of the developments. Source

Comments are closed