RCom Successfully Completes Fibre Assets Sale to Reliance Jio for Rs 3,000 Crore

Reliance Communications (RCom), which announced its fibre assets sale to Reliance Jio last year today stated that it had completed the planned sale. The Anil Ambani-led company has sold the optical fibre assets worth Rs 3,000 crore to Reliance Jio. Last week, RCom announced the completion of media convergence nodes sale to Jio worth Rs 200 crore and today, it has announced the completion of fibre assets sale. RCom is now left with wireless spectrum and tower sale, which are expected to be finalised in the coming weeks. This announcement marks the wrapping-up of yet another portion of a larger deal inked between RCom and Reliance Jio in December last year, which involved the sale of wireless spectrum, tower, fibre and media convergence nodes.

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RCom and Reliance Jio Deal Progressing Very Well

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.

“Reliance Communications Limited today announced the completion of the sale of its fibre assets and related infrastructure assets, worth Rs 3,000 crore, to Reliance Jio Infocomm Limited (RJIO),” Reliance Communications said in a BSE filing today, according to PTI.

RCom Will Now Look Forward to Selling Wireless Spectrum and Towers

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

As mentioned, RCom had announced the completion of the sale of its media convergence nodes (MCNs) and related infrastructure assets, worth Rs 2,000 crore to Reliance Jio Infocomm. RCom is undergoing the debt resolution process under the Insolvency and Bankruptcy Code, 2016 (IBC).