Debt-laden Reliance Communications is renegotiating its tower business deal with all interested parties, including Brookfield Infrastructure Group.
“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,” RCom said in a regulatory filing. “In view of above, the company is renegotiating the tower transactions with all the interested parties including Brookfield Infrastructure Group.”
In December 2016, RCom had signed binding agreements with Brookfield Infrastructure and its institutional partners for the sale of its tower business. RCom was to receive an upfront cash payment of ₹11,000 crore on completion of the transaction.