Reliance Jio to acquire mobile business assets of RCom
"Reliance Jio Infocomm Limited (RJIL) or its nominees will acquire assets under four categories –
Towers,
Optic Fiber Cable Network (OFC),
Spectrum and Media,
Convergence Nodes (MCN) from RCOM and its affiliates. These assets are strategic in nature and are expected to contribute significantly to the large scale roll-out of wireless and Fiber-to-Home and Enterprise services by RJIL,"
Reliance Jio said in a statement.
According to the deal, Reliance Jio will acquire RCom's assets such as:
- 122.4 MHz of 4G Spectrum in the 800/900/1800/2100 MHz bands
- Over 43,000 towers , amongst the top 3 independent tower holdings in India
- Approximately 1,78,000 RKM of fiber with pan India footprint
- 248 Media Convergence Nodes, covering ~5 Million sqft used for hosting telecom infrastructure
The deal is slated to bring relief to RCom which is reeling under debt of around Rs45,000 crore. Reliance Jio or its nominees will acquire assets under four categories—towers, optic fiber cable network (”OFC”), spectrum and media convergence nodes (”MCN”) from RCom and its affiliates.
“These assets are strategic in nature and are expected to contribute significantly to the large scale roll-out of wireless and Fiber-to-Home and Enterprise services by RJIL,” the statement said. Reliance Jio will acquire all the assets without any previous liabilities attached to them.