Reliance Communications (RCom),the second largest telecom company in India,will be debt free within the next three years,its chairman Anil Dhirubhai Ambani said at the companys sixth AGM held here on Tuesday.
The company would be considering various options for the same. RCom has around Rs 33,000 crore in debt,including the $1.8 billion (about Rs 8,200 crore) it raised to pay for the third-generation radio bandwidth it recently won via a government-run auction.
RCom would again consider selling a stake in its tower infrastructure arm Reliance Infratel,Ambani said,after a deal with GTL Infrastructure fell through this month. We are considering options to raise equity resources in both RCom and our tower subsidiary,Reliance Infratel. For Reliance Infratel,we are in discussions with various strategic investors and we want it to be a completely operator neutral tower firm. The transaction structure for this deal would be a combination of cash and stock in a way that it reduces our debt, Ambani added.