A listing of Reliance Communications cable unit Flag Telecom is coming closer. In a notice to the Bombay Stock Exchange, the Indian telco said it has filed a copy of the preliminary prospectus for the listing with the Monetary Authority of Singapore.
In…
A listing of Reliance Communications cable unit Flag Telecom is coming closer. In a notice to the Bombay Stock Exchange, the Indian telco said it has filed a copy of the preliminary prospectus for the listing with the Monetary Authority of Singapore.
In mid-June, RCom had received approval from the Singapore stock exchange to list the unit.
A 75% stake in the cableco is estimated to fetch approximately US$1bn and would allow RCom to cut its reported US$7bn debt load.
Standard Chartered, DBS Group and Deutsche Bank have been hired as advisers on the process, it has been suggested.
