Jio front-runner for RCOM assets, report says

21 Dec 2017

Reliance Jio Infocomm is the front-runner to acquire the assets of stricken Reliance Communications (RCOM), the Hindu Business Line reports, with the latter company poised to shut down significant parts of its wireless business after a merger bid with Aircel collapsed. Jio, which is led by billionaire Mukesh Ambani is said to be in advanced talks to acquire spectrum from RCOM valued at approximately INR190 billion (USD2.9 billion), its portfolio of 43,600 telecoms towers worth up to INR90 billion and its fibre-optic network, which is valued at around INR40 billion. A number of private equity companies and other strategic investors are also involved in discussions to acquire RCOM’s assets, however.

India, Reliance Communications (RCOM), Reliance Jio Infocomm (Jio)