Rcom shareholder will get 2-3 GTL infra shares free per the deal estimats

As part of the GTL deal, over 2 million shareholders of RCOM and the minority shareholders of Rel Infratel are set to receive free listed


shares of the merged entity. ‘‘ The swap ratio is expected to be in the range of 2-3 shares of GTL Infra for every one share of RCOM, and will depend on the quantum of debt that is reduced in Rel Infratel,’’ sources told TOI. A detailed picture would be available within the next three weeks, the sources added.



Though the exact financial details of the deal are not immediately available, it is learnt that the deal is not based on the exact number of towers that RCOM owns but the tenants on those towers. The current and future tenants of RCOM’s towers are said to have enabled a deal size of Rs 48 lakh per tower.



With the 50,000 towers owned by RCOM, the deal pitches GTL Infra into the No. 2 slot in India with a combined total 80,000 towers, behind Indus Towers’ 1 lakh telecom towers. As against GTL, which is an independent and neutral firm, Indus is a consortium owned by leading telecom companies, including Bharti Airtel, Vodafone Group and Idea Cellular. The owners of Indus have pooled their assets to form the firm. GTL, on the other hand, continues to remain independent and neutral.



Upon closing, the merged entity will have over 80,000 towers and over 1,25,000 tenancies from over 10 telecom operators. The interests of RCOM as the largest tenant of the merged entity have been adequately protected through appropriate contractual arrangements, sources said. Sources said RCOM decided to ink the deal with GTL because of ‘‘ the benefits of scale that would be immediately available, as well as enjoying the future benefits when more tenants get added onto the towers’’ .



The fact that GTL is an independent tower company also helped swing the deal in its favour. Globally, Crown Castle and American Tower Corporation are among the few telecom firms that are not controlled by telecom operators . ‘‘ Though infrastructure sharing is the norm with most operators as of now, having a neutral, independent stand favours faster deployment and investment optimisation ,’’ an analyst with a brokerage house said.
Source : Economic times.
 
 
Still More Good news is in line as after that Rcom may hiveoff DTH IPTV business and after that it will look for 26% strategic investor. so Three Cheers  for RCOM and RCOM Shareholder