India’s Reliance Jio to buy all wireless assets of Rcom

Anil Ambani's Reliance Communications Ltd signed an agreement to sell its wireless assets to Reliance Jio Infocomm Ltd, the senior brother's telecom arm and billionaire's oil conglomerate Mukesh Ambani Reliance Industries Ltd., both companies said in statements separated on Thursday.

The sale includes all of Reliance Communications' telecommunications, tower, fiber optic and other telecommunications infrastructure assets and is subject to government approvals and other regulatory approvals, as reported.

The sale marks the return of the telecommunication company to Reliance Industries, which made incursions into telecoms in 2002, under the leadership of former Ambani, as Reliance Infocomm Ltd.

A quarrel between the two brothers in 2005 led to the split of Reliance Industries when Mukesh Ambani maintained his oil and gas cowhog business and that Anil Ambani walked away with telecommunications and telecommunications. 39; electricity.

Source link