Bombay HC okays demerger of RCoM's tower biz
Anil Ambani group company Reliance Communications today said it has received Bombay High Court's approval for the demerger of its cellular towers and related infrastructure to Reliance Telecom Infrastructure Ltd (RTIL).
By PTI |
MUMBAI: Anil Ambani group company Reliance Communications today said it has received Bombay High Court's approval for the demerger of its cellular towers and related infrastructure to Reliance Telecom Infrastructure Ltd (RTIL).
The High Court approved the scheme of arrangement between RCoM, Reliance Telecom Ltd and RTIL. Under the scheme, the passive infrastructure consisting of wireless towers (CDMA and GSM) and related infrastructure would be transferred from RCoM and RTL to RTIL, a company statement said.
The demerger would help reduce operating costs, improve cost efficiency and bring greater financial flexibility. Besides, it would enable the companies to focus on their core business activities, it said.
These towers could also be shared with other wireless service providers to generate revenue, it added.
The High Court approved the scheme of arrangement between RCoM, Reliance Telecom Ltd and RTIL. Under the scheme, the passive infrastructure consisting of wireless towers (CDMA and GSM) and related infrastructure would be transferred from RCoM and RTL to RTIL, a company statement said.
The demerger would help reduce operating costs, improve cost efficiency and bring greater financial flexibility. Besides, it would enable the companies to focus on their core business activities, it said.
These towers could also be shared with other wireless service providers to generate revenue, it added.
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