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Reliance Communications completes Rs 30 billion fibre assets sale to Reliance Jio

Franchise India Bureau
Franchise India Bureau Aug 28 2018 - 1 min read
Reliance Communications completes Rs 30 billion fibre assets sale to Reliance Jio
RCom said, “With successful completion of the fibre monetisation transaction, 1,78,000 kilometers fibre stand transferred to RJIO."

Anil Ambani-led Reliance Communications Ltd has completed the sale of its fibre assets worth Rs 30 billion to elder brother Mukesh Ambani-led Reliance Jio Infocomm Ltd. RCom said, “With the successful completion of the fibre monetisation transaction, 1,78,000 kilometres fibre stand transferred to RJIO."

RCom had last week completed the sale of its media convergence nodes and related infrastructure assets worth Rs 20 billion to Reliance Jio.

Reliance Communications had already reinstated bank guarantees worth Rs 774 crore with the telecom department ahead of the timeline set by the telecom tribunal and had said that its Rs 25,000 crore asset sale plans were on track.

The deal was inked between RCom and Reliance Jio in December last year, which involved the sale of wireless spectrum, tower, fibre and media convergence nodes.

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