Free Press Journal

RCom seals fibre asset sale to RJio for Rs 3K cr

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New Delhi : Anil Ambani-led Reliance Communications (RCom) on Monday said it has completed the planned sale of optical fibre assets worth Rs 3,000 crore, to Reliance Jio Infocomm (RJIO).

The announcement marks the wrapping-up of yet another portion of a larger deal inked between RCom and Reliance Jio in December last year, that involved the sale of wireless spectrum, tower, fibre and media convergence nodes. In all, the mega deal packed in 122.4 MHz of 4G spectrum in the 800/900/1800/2100 MHz bands, over 43,000 towers, 1,78,000 kilometres of fibre and 248 media convergence nodes for an estimated price tag of Rs 25,000 crore.

With the conclusion of fibre monetisation deal, 1,78,000 kilometers fibre stand transferred to RJIO, which is gearing up to offer ultra high-speed fixed line fibre broadband for homes and enterprises across 1,100 cities.