© dnaindia.comBrookfield to invest Rs 25,215 cr in Reliance’s telecom tower arm
Canadian investment firm Brookfield Asset Management will invest Rs 25,215 crore in a trust that controls Reliance Industries' telecom tower infrastructure assets, said the two companies Friday.
This is the second investment this year that Brookfield is making in a venture controlled by Reliance chairman Mukesh Ambani. In March, it had agreed to buy the loss-making East-West Pipeline Ltd (EWPL), earlier known as Reliance Gas Transportation Infrastructure Ltd, for an enterprise valuation of Rs 13,000 crore from Ambani, chairman of Reliance Industries Ltd (RIL).
Earlier this year, Reliance demerged the fibre and tower businesses into Jio Digital Fibre Pvt Ltd and Reliance Jio Infratel Pvt Ltd, respectively. As much as Rs 1.07 lakh crore of debt too moved to these companies. Reliance is in parallel negotiations for a similar monetisation exercise for its 7,00,000 route km fibre network.