By Fierce Telecom

Reliance Communications plans to divest a 75 percent stake in its FLAG Telecom submarine cabling business, reports Business Standard. According to a prospectus filed on the Singapore Stock Exchange, the service provider hopes to raise between $1.25 and $1.5 billion in the sale.

The goal of the sale, which it expects to complete by mid-May, is set on reducing Reliance's debt.

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