Brookfield buys Reliance’s mobile tower business


Indian internet and telecoms company Reliance Communications said on Wednesday (21) it had agreed to sell its mobile phone tower business to Canadian asset management giant Brookfield for $1.6 billion (£1.3 billion). Reliance Communications said the deal represented the largest investment by a foreign investor in Indian infrastructure and comes as Brookfield seeks to capitalise on liquidity constraints at major Indian firms. Indian companies are struggling to acquire capital as the central bank puts pressure on lenders to address bad loans. Firms are choosing asset sales to boost coffers and reduce debt, Bloomberg has reported. In a statement to the…

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