New Delhi : Debt-laden Reliance Communications on Tuesday said it is renegotiating the tower business deal with all interested parties, including Brookfield Infrastructure Group. In December last year, Reliance Communications had inked binding agreements to sell 51 per cent stake in its tower business to Canada-based Brookfield Infrastructure and its institutional partners for Rs 11,000 crore but the deal fell through after the company called off its merger with Aircel.
“The deal with Brookfield Infrastructure Group for tower transaction was condition precedent based on the demerger of wireless division of the company with Aircel, which was called off by the company and Aircel on mutual consent on October 1, 2017,” Reliance Communications said in a BSE filing.
