MUMBAI, Oct 14 (Reuters) - Reliance Communications Ltd
, India's fourth-biggest cellular carrier by customer
base, said on Friday it signed a non-binding term sheet with
Brookfield Infrastructure Group to sell its tower assets in a
deal that could fetch it an upfront 110 billion rupees ($1.65
It would also get "49 percent future economic upside" from
the tower business, based on certain conditions, the company,
controlled by billionaire Anil Ambani, said in a statement. It
did not divulge much details.
Reliance Communications will continue as an anchor tenant on
the tower business, the statement said.
($1 = 66.5919 Indian rupees)
(Reporting by Devidutta Tripathy; Editing by Sherry