Reliance Communications (RCOM) is reportedly planning to sell a majority stake in its tower unit, Reliance Infratel. This would allow the company to focus on its core telecom business and launch 4G long term evolution (LTE) services, while the funds raised would help the company in reducing its debt.

RCOM is presently undertaking the process to select a banker for the stake sale, and has reportedly asked for bids from bankers including Morgan Stanley, Bank of America Merrill Lynch and JM Financial to run the process. The company intends to complete the sale process in 2015.