Reliance Communications in talks over cable assets sale

28 August 2013 | Kavit Majithia

India’s Reliance Communications has confirmed it is in talks regarding the sale of a stake in its undersea cable assets.

The company’s chairman, Anil Ambani, did not reveal which companies were the potential suitors, but said Reliance was in talks with potential partners over a stake sale in the unit.

Ambani said in April that the company was discussing a potential deal for the stake with a private equity consortium including Samena Capital, after advanced talks with Bahraini operator Batelco were scrapped.