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