Keeping India's 'Flag' high at LSE

MANAGEMENT GURU

Reliance Communication's (RComm) Flag Telecom is all set to hit the London Stock Exchange through an Initial Public Offer (IPO). Flag Telecom is RComm's fully-owned subsidiary and runs a fibre bandwidth network connecting a major part of the globe. Goldman Sachs and Deutsche bank have been hired by RComm to manage the proceedings of the IPO which is said to be completed in three months’ time. According to analysts, the company is worth $2 billion and it is believed that through divestment of 10- 15% equity, Anil Dhirubhai Ambani Group (ADAG) will be able to recover 10 times of hat it paid to acquire Flag Telecom in 2002 ($211 million). Part of the proceeds of the IPO will go into funding its expansion plans, announced last year.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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