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MUMBAI: Canadian investor Brookfield<\/a> is already exploring other strategic options in the Indian telecom<\/a> towers space and will still try to salvage its long pending acquisition of Reliance Communications’ (RCom<\/a>) towers, although at a revised price after RCom’s merger talks with Aircel<\/a> fell through on Sunday.\n
\nHowever, the valuation of the RCom towers will need to be “seriously revised” given that half of the basis of the earlier value was future growth promise of the Aircel, RCom combine, said a person familiar with the development.
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\n“Brookfield is committed to forming a tower company in India.”
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Brookfield is all set to put its binding $800 million-$1 billion offer for the independent tower assets of Vodafone<\/a> and Idea in the first week of October. It is competing with ATC and IDFC Alternatives to bag the 20,000 tower portfolio. The following month, it also plans to compete for acquiring a controlling stake in Bharti Infratel, said sources aware of the development.
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\n“The RCom deal is not dead yet for Brookfield after investing so much time, effort and money. They even hired a CEO for the business who himself is a tower company veteran. A former PE executive is also on board. So expect renegotiations and a much lower valuations now that Aircel’s tennacies will not be factored in,” said an official in the know.
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\nOne of the sources mentioned above said, sensing trouble, Brookfield had already offered a 20-25% revision in its offer price, something that was not accepted by RCom’s management. This could not be independently verified. Mails sent to Brookfield spokesperson did not elicit a response till this went to print.
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In its statement RCom said, “The company will continue to implement its plans for monetisation of its tower and fiber assets, as already announced.” “There are no great assets left in the tower sector, but a string of a few average ones could make a business given that Airtel<\/a>, Idea-Vodafone, and Jio<\/a> will need to expand quickly to compete,” said a person close to the deals.
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The Indian telecom sector<\/a> is expected to emerge with only three strong private operators as the others fall by the way-side in the wake of scathing competition. The reduction in players should reduce irrational pricing and therefore improve profitability.
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\nRCom had announced signing of the binding agreement with Brookfield in December 2016 for a Rs 11,000-crore deal to sell its tower business. The deal received necessary regulatory clearances, the latest being the NCLT approvals.
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\nSince 2015, RCom has been trying to sell the tower portfolio to deleverage its balance sheet. Prior to Brookfield, it signed a non-binding agreement with a TPG-led consortium but those talks failed too.
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\n“The previously investment in a portfolio of over 40,000 towers from Reliance Telecom is conditional on, among other standard conditions, the merger of RCom with Aircel. These initiatives are still underway and as such, closing of the transaction is anticipated by the end of the year,” the investor had said in a release in August.\n\n<\/body>","next_sibling":[{"msid":60907216,"title":"Aircel likely to go for debt restructuring","entity_type":"ARTICLE","link":"\/news\/aircel-likely-to-go-for-debt-restructuring\/60907216","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":60907235,"entity_type":"ARTICLE","title":"Brookfield may revive RCom deal plan","synopsis":"Canadian investor Brookfield will still try to salvage its acquisition of RCom towers at a revised price after RCom\u2019s merger talks with Aircel fell through.","titleseo":"telecomnews\/brookfield-may-revive-rcom-deal-plan","status":"ACTIVE","authors":[{"author_name":"Deepali Gupta","author_link":"\/author\/479219003\/deepali-gupta","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479219003.cms?width=100&height=100&hid=268","author_additional":{"thumbsize":false,"msid":479219003,"author_name":"Deepali Gupta","author_seo_name":"deepali-gupta","designation":"Journalist","agency":false}},{"author_name":"Arijit Barman","author_link":"\/author\/16028\/arijit-barman","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/16028.cms?width=100&height=100&hid=268","author_additional":{"thumbsize":true,"msid":16028,"author_name":"Arijit Barman","author_seo_name":"arijit-barman","designation":"Journalist","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-10-02 08:45:11","lastupd":"2017-10-02 08:48:39","breadcrumbTags":["RCom","brookfield","Jio","airtel","Aircel","Reliance Communication","Industry","Indian Telecom","telecom sector","vodafone"],"secinfo":{"seolocation":"telecomnews\/brookfield-may-revive-rcom-deal-plan"}}" data-authors="[" deepali gupta","arijit barman"]" data-category-name="" data-category_id="" data-date="2017-10-02" data-index="article_1">
孟买:加拿大的投资者布鲁克菲尔德已经探索其他战略选择印度电信塔空间,仍然试图挽救其漫长等待收购Reliance Communications”(信实电信)塔,尽管价格修正后的RCom合并谈判Aircel周日告吹。然而,信实电信塔的估值需要“认真修订”考虑到一半的基础价值是未来增长的承诺Aircel早些时候,信实电信将一位知情人士表示,发展。
“布鲁克菲尔德致力于形成一个塔公司在印度。”
布鲁克菲尔德是所有组将其绑定8亿- 10亿美元收购独立塔的资产沃达丰(Vodafone)在10月的第一周和想法。与ATC竞争和IDFC替代袋20000塔组合。次月,它还计划收购控股权争夺在鼓吹,说来源清楚的发展。
“布鲁克菲尔德的信实电信协议还没有死后投资那么多的时间,精力和金钱。他们甚至聘请了一位首席执行官的业务他是塔公司资深。PE前高管也在船上。所以期待和重新谈判更低估值现在Aircel tennacies不会考虑,”一位官员说知道。
上述来源之一说,感觉麻烦,布鲁克菲尔德已经提出了一个20 - 25%修正报价,不被接受的东西信实电信的管理。这无法得到独立消息来源的证实。邮件发送到布鲁克菲尔德发言人并未引起反应到这去打印。
RCom的在其声明中说,“该公司将继续实施其计划资产货币化的塔和纤维,已经宣布。”“没有伟大的资产留在塔部门,但一连串的一些一般的可以让业务考虑到附近的旅馆、Idea-Vodafone和Jio将需要迅速扩大,竞争,”一名知情人士表示。
印度电信部门预计将出现只有三个强大的私人运营商其他人倒在凯里的严厉的竞争。玩家可以减少非理性定价,因此提高盈利能力。
信实电信宣布签署具有约束力的协议与布鲁克菲尔德在2016年12月11000卢比交易出售其塔业务。这笔交易获得必要的监管审查,最新NCLT审批。
自2015年以来,一直试图出售塔组合RCom去杠杆化资产负债表。布鲁克菲尔德之前,它与tpg牵头的财团签署了一份不具约束力的协议,但这些谈判失败。
“以前投资在投资组合中超过40000塔从信实电信是有条件的,其他标准条件,与Aircel信实电信的合并。这些行动仍在进行中,因此,关闭交易的预期到今年年底,“投资者在8月在一份新闻稿中说。
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