Anil Ambani-controlled Reliance Communications is ready to part from its tower business to Manoj Tirodkar-controlled GTL Infrastructure for a venture value of $6 billion in a cash-cum-stock transaction, which is set to create it to be the world’s largest independent telecom tower Company, said a person close to the matter.

Both the groups are probable to sign a definitive concord on Sunday to complete the transaction, which will see RCOM transferring its 50,000 towers along with $3 billion liability to GTL Infrastructure, subject to unpaid industry and regulatory consent.

GTL Infrastructure owns 32,000 towers.

The parties have settled upon the extensive contours of the agreement. They are most probable to sign on the dotted line on Sunday. If they are unable to strike a deal on Sunday, they are most definitely to do so in early next week, as confirmed by the person, who had direct knowledge of the affair.

The forthcoming announcement might not have financial particulars of the transaction, as they will be determined with the help of due assiduousness.

But RCOM has agreed, which runs the tower business through its 95% supplementary Reliance Infratel that it will be getting money and its shareholders will be getting equity shares in GTL.