labels: telecom, reliance communications
Rel Communications to build 23,000 towers this year: Anil Ambani news
18 July 2007

At the first annual general meeting of Reliance Communications as a listed company, Anil Ambani, chairman, Reliance Communications, said that it expected a positive surprise in the valuation of the tower company. He added that the company would build 23,000 towers this year.

Apart from that, he stated that Reliance Communications'' stake sale in the tower business was in an advanced stage and that it would be listed after private placement to PE players.

The company is targeting 100 million customers over the next few years and will start DTH services by the end of 2007.

It was also stated in the AGM that Flag will sell minority stake to private equity players or list overseas.

Reliance Communications will invest Rs16,000 crore for network expansion in FY08.

 


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Rel Communications to build 23,000 towers this year: Anil Ambani