| Saturday, January 13, 2007 |
| RCom to list Flag Telecom on London |
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Reliance Communications Ltd is planning to list its subsidiary Flag Telecom on the London Stock Exchange. Flag Telecom is currently a 100% subsidiary of Reliance Communications Ltd and is a leading player in the international bandwidth market. Flag Telecom is building the world's largest IP network at an investment of over $1.5 Billion.
Reliance insiders have said that RCom plans to dilute 20-24% stake in Flag Telecom and raise over $500 million. Though Anil Ambani is backed by several VCs and PE funds, RCom still may need a cash cow if at all it wins Hutch.Labels: India Telecom |
Published on Saturday, January 13, 2007 at 1:46 PM  |
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