Buyout Firms Eye Reliance Communications Tower Unit

Private equity companies Blackstone Group

, Apax Partners, TPG Capital and Carlyle Group reportedly have expressed interest in purchasing a stake in Reliance Communications' mobile-phone towers unit, according to people familiar with the matter. TPG and Carlyle are among those in talks with the Mumbai-based telecom. Reliance Communications is India's second-largest mobile phone operator and billionaire Anil Ambani's flagship company. It has been trying to sell the unit for about a year in an effort to reduce the company's debt. Reliance has seen its profit slide for seven straight quarters. Private equity investments in India have reached $3.36 billion so far this year, according to data compiled by Bloomberg. That compares with investments of $3.77 billion for all of 2010.