RCOM to offload more spectrum

Reliance Communications (RCOM) has signed an agreement to sell an additional 65MHz of spectrum in the 800MHz band to Reliance Jio Infocomm (Jio). The Economic Times writes that the additional airwaves are expected to sell for around INR35 billion to INR37 billion (USD506 million to USD535 million), though no details regarding price have been made public. The sale is in addition to an existing pact signed between the operators in December 2017 covering 122MHz of frequencies as well as RCOM’s tower and fibre assets. As noted by TeleGeography’s GlobalComms Database, RCOM closed down the majority of its mobile services in December 2017 after a planned merger with Aircel fell through. The operator is now looking to reduce its INR450 billion debt pile through the monetisation of its various assets, with Jio set to purchase its spectrum, towers and fibre, whilst Canada’s Brookfield will purchase its real estate assets.