RCom’s Proposed Assets Sale to Reliance Jio Receives CCI Nod

The Competition Commission of India (CCI) has reportedly approved the proposed sale Reliance Communications (RCom) infrastructure assets to Reliance Jio. Reporters at PTI has confirmed the progress, and they learnt this information from two people who are familiar with the development. This news will surely boost Reliance Jio as it’s expected to bolster its network infrastructure by acquiring RCom’s assets. At the time of announcing the definite agreement, both the companies said that the deal would be closed sometime in March 2018.

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Back in December 2017, Mukesh Ambani-led Reliance Jio confirmed that it’s going to acquire the infrastructure assets of debt-laden RCom for an undisclosed amount. While both the companies chose not to reveal the agreement value, rumours mill suggest a massive Rs 18,000 crore deal. And the sale of network assets has helped RCom to reduce its massive debt.

At the time of acquiring the assets, Reliance Jio announced that it would acquire assets of RCom under four categories- Towers, Optic Fiber Cable Network (OFC), Spectrum and Media Convergence Nodes (MCN).

RCom’ 4G spectrum in 122.4 MHz in the 800/900/1800/2100 MHz bands, along with 43,000 towers, 248 media convergence nodes and 178,000 kilometres of fiber will now be part of Reliance Jio’s assets. That’s a massive amount of spectrum and optic fiber coverage.

Right after the deal announcement, Moody’s stated that this deal would further bolster Reliance Jio’s 4G-only network. Also, the optical fiber network will play a significant role in Jio’s large-scale fiber-to-the-home (FTTH) and enterprise services in the future.