The first round of roadshows for the listing of Reliance Communications’ cable unit, Flag Telecom, is scheduled to start next week, according to the Economic Times citing banking sources.
The Indian telco had confirmed, in early April, that it was…
The first round of roadshows for the listing of Reliance Communications’ cable unit, Flag Telecom, is scheduled to start next week, according to the Economic Times citing banking sources.
The Indian telco had confirmed, in early April, that it was considering an IPO of Flag on the Singapore Stock Exchange. A 75% stake in the cableco is estimated to fetch between US$1bn and US$1.5bn, which would enable RCom to cut its US$7bn debt load.
The transaction could reportedly close in mid-June.
It is suggested that Standard Chartered, DBS Group, Industrial and Commercial Bank of China (ICBC), and Deutsche Bank have been hired as advisers on the process.
RCom declined to comment on the report.
