Tuesday, 29 Sep 2020

Singapore's GIC, Brookfield Infrastructure buy Indian telecom towers for $3.4 billion

(Reuters) – GIC, Singapore’s sovereign wealth fund, said on Tuesday it and a group of investors, including Brookfield Infrastructure Partners LP (BIP.N), bought an Indian telecom tower company from a unit of Reliance Industries (RELI.NS) for $3.4 billion.

The investment by the group is for around 135,000 communication towers used by Reliance’s telecoms venture Jio Infocomm, GIC said in a statement.

(This story corrects deal value in headline to $3.4 billion, not $3.5 billion)

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