Reliance Communications said on Monday it was in talks with other strategic and financial investors to sell stake in its telecoms tower businesses.

Earlier, GTL Infrastructure Ltd said its deal with Reliance Comm to merge their telecoms tower businesses would not take place.

In June, GTL and Reliance Comm, India's second-biggest cellphone operator, agreed to combine their tower operations that would own more than 80,000 towers and have an enterprise value of over $11 billion.