Fortress in Reliance Telecom Investment

July 30, 2007

Cleary Gottlieb represented Fortress Investment Group LLC in its acquisition of a minority stake in Reliance Telecom Infrastructure Limited from Reliance Communications Limited. Fortress’ co-investors included a number of leading funds across the United States, Europe and Asia. The deal signed on July 30.

Reliance Telecom, a part of India’s Reliance ADA Group, is worth approximately $6.75 billion. It builds, owns and operates wireless telecommunications towers and related assets, generating revenue by sharing infrastructure with wireless telecom operators through long-term contracts.