Leftover businesses draw interest from two buyers: Reliance Communications

The company which exited the flagship wireless businesses due to financial pressures and is also selling its spectrum, is looking to sell off the enterprise-focused offerings including subsea cables, international fixed line and data centres businesses.

“We also do have two strategic buyers that are looking at the company today as we speak. We will see where it can go over the next few months,” RCom’s CEO, Bill Barney said.  He said the buyers will look for either a 100 per cent buy or at least a controlling stake. The company is optimistic of having a networth of USD 1 billion, he said. At the company’s AGM earlier this month, Ambani had announced that RCom will be completely exiting the telecom business to concentrate on real estate in future. The proceeds from the sale will go to its creditors, he had said.

“Our chairman talked about exiting or withdrawing from the telecom business. He’s not going to do this tomorrow, it is going to happen over a time. It may be months, may be years,” Barney said.