New Delhi: Reliance Communications, India's No 2 mobile operator, is looking to sign a 10-year tower-sharing agreement worth up to 10 billion rupees (USD 205 million) with nascent local telecoms operator STel, a financial daily reported on Thursday, citing unnamed officials.
The paper said the deal was likely to be announced on Thursday and would bring in about 800 million rupees to 1 billion rupees in annual revenue for Reliance Communications.
STel, in which Bahrain Telecommunications Co (Batelco) agreed to buy a 49 percent stake in January, would have access to 10,000 of Reliance Communication's 50,000 towers, the paper said.
Reliance Communications could not be reached immediately for a comment.
Reliance Communications last month signed a 10-year tower-sharing deal worth more than USD 2 billion with Etisalat's India joint-venture telecoms firm.
Bureau Report
First Published: Thursday, August 27, 2009, 11:27