India's Reliance Comm, S Tel in tower deal
S Tel, in which Batelco has agreed to buy a 49%, to share infrastructure with RComm.
India mobile firms Reliance Communications and S Tel, in which Bahrain Telecommunications Co (Batelco) agreed to buy a 49 percent stake in January have agreed to share infrastructure including mobile towers, the companies said on Friday.
S Tel would have access to 10,000 of Reliance Communications' towers in six service areas, the companies said.
Financial details were not disclosed.
On Thursday, the Economic Times had reported the firms were looking at a 10-year tower-sharing deal that would bring in about up to 1 billion rupees ($20m) in annual revenue for Reliance Communications. ($1=48.9 rupees). (Reuters)