US billionaire George Soros and six other investors have picked up a 5 per cent stake in Reliance Telecom Infrastructure Ltd, a subsidiary of Reliance Communications (R-Com), for Rs 1,400 crore.
Besides George Soros’s Quantum Fund, other investors who picked up stakes in the R-Com arm are Fortress Capital, HSBC Principal Investments, Galleon Group, New Silk Route, GLG Partners and DA Capital.
The proceeds from the transaction have been received in full, and capital gains of Rs 1,200 crore have been booked.
R-Com chairman Anil Ambani said, “We are excited about the growth potential in telecom infrastructure. Our strategy to create a separate company for infrastructure has resulted in a tremendous unlocking of value for over two million R-Com shareholders.” (Source: The Telegraph)