As the world’s largest independent app store, GetJar is the most cost effective, easy and scalable distribution channel RCOM will be able to leverage in order to generate traffic to its network * Reliance Communications sells 5 per cent in tower business for Rs1,400 crore ((
Reliance Communications Ltd, has agreed to sell 5 per cent of the equity share capital of its fully-owned tower business for Rs1,400 crore. Reliance Telecom Infrastructure Ltd (RTIL) to a group of leading institutional investors across the US, Europe and Asia. The transaction will result in substantial unlocking of the company''s value with a cash inflow of Rs1,400 crore ($337.5 million), the benefits of which will go to the company and its over 2 million shareholders, the company said in a filing with the Bombay Stock Exchange (BSE).The capital gains arising out the sale of the 5 per cent stake in RTIL will be amount Rs1,200 crore ($280 million).The sale values RTIL at Rs27,000 crore ($6.75 billion) or approximately Rs135 per company''s equity share, which