Reliance Communications Ltd., the telecommunications company that’s offloading most of its assets to a rival, is in talks to sell a controlling stake in what will remain after it exits India’s consumer wireless business. The outcome of talks with the investors would be known in a “few months,” Barney told reporters in Mumbai on Wednesday. Anil Ambani’s Reliance conglomerate has been disposing other assets as well. Reliance Infrastructure Ltd. last month completed the sale of its Mumbai electric-power distribution assets, cutting total debt by about 66 percent. There were three bidders for the assets, Nomura Holdings Inc. said in June, citing management’s comments on an investor call.

Source: Mint September 27, 2018 08:03 UTC