Reliance Communications (RCom) is speculated to offload part stake in fibre optic business unit, FLAG Telecom which is reported to be valued about $ 3 billion, say reports. The company however outrightly refutes these speculations.

Further RCom may also sell its US-based Ethernet Services unit, Yipes which it acquired in 2007. 

Reports say the company may sell its stake to its clients as well. Deutsche Bank is assisting RCom for the deal.

RCom itself had acquired FLAG in 2003 for $ 207 million. FLAG services come under operations of Reliance Globalcom.

Reports say Japan’s KDDI Corp and US service providers, AT&T as well as Verizon maybe in talks to acquire RCom’s stake in these companies.