RCOM-GTL tower deal cancelled
September 17, 2010
The deal to merge the telecom tower business of GTL Infrastructure and Reliance Infratel has been cancelled. In June 2010, GTL and Reliance Communications (RCOM) had agreed to combine their tower operations to form the world's largest telecom tower company with more than 80,000 towers. The deal would have formed a company with an enterprise value of over $11 billion. Moreover, it would have lowered RCOM's debt by $3.9 billion.
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