MUMBAI - Telecoms services provider Spice Communications Ltd said on Wednesday its board had decided to sell 875 telecom towers to a tower operating company.
The profit from the sale of the towers would be 5 billion rupees, chairman B.K.Modi told a television channel.
The company will also avail borrowing facilities up to $400 million from Hong Kong & Shanghai Banking Corp and another $410 million from China Development Bank for growth and network expansion, it said in a statement.
Shares in the company were trading up 7.6 percent at 64.25 rupees in a firm Mumbai market.
The profit from the sale of the towers would be 5 billion rupees, chairman B.K.Modi told a television channel.
The company will also avail borrowing facilities up to $400 million from Hong Kong & Shanghai Banking Corp and another $410 million from China Development Bank for growth and network expansion, it said in a statement.
Shares in the company were trading up 7.6 percent at 64.25 rupees in a firm Mumbai market.
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