Reliance Jio Confirmed to Acquire Wireless Infrastructure of Reliance Communications

As it was rumoured earlier, Reliance Jio officially announced that it’s acquiring the wireless infrastructure of Reliance Communications (RCom). The subsidiary of Reliance Industries Limited (RIL) today announced the signing of a definitive agreement for the acquisition of specified assets of RCom and its affiliates. The monetisation process of assets will be mandated by SBI Capital Markets Limited.

rcom-reliance-jio-tower-assts

“An asset monetisation process for RCOM assets was mandated by the lenders of RCOM, who appointed SBI Capital Markets Limited to run the process. The process is supervised by an independent group of distinguished industry experts. RJIL emerged as the successful bidder in the two-stage bidding process,” said Jio in a media statement.

As a result of the agreement, Reliance Jio or its nominees will acquire assets of RCom and its nominees under four categories- Towers, Optic Fiber Cable Network (OFC), Spectrum and Media Convergence Nodes (MCN).

“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 Reliance Jio,” said the company.

The Mukesh Ambani-led telco also confirmed that the “acquisition is subject to receipt of requisite approvals from Governmental and regulatory authorities, consents from all lenders, the release of all encumbrances on the said assets and other conditions precedent. The consideration is payable at completion and is subject to adjustments as specified in the agreement.”

Both the parties are bound by confidentiality obligations and will make further disclosure at the appropriate time. Reliance Jio is being advised by Goldman Sachs, Citigroup Global Markets, JM Financial Private Limited, Davis Polk & Wardwell LLP, Cyril Amarchand Mangaldas, Khaitan & Co and Ernst & Young on this transaction.

In a recent report, it was stated that Reliance Jio emerged as the front-runner to acquire the assets of RCom in the 850 MHz and 2100 MHz band. It was also said that other leading telecom operators Bharti Airtel, Vodafone India, and Idea Cellular also shown interest in RCom’s spectrum in the 900 MHz band.

Jio, in the press statement, did not reveal the valuation of the deal. However, the recent report said that the deal is valued at about Rs 19,000 crore for the remainder of the licence period. Having said that, RCom has 850 MHz spectrum in all 22 circles, 2100 MHz spectrum in 13 circles and 900 MHz in 2 circles.

Read more on:

Chakri is a go-to guy for your next smartphone recommendation. Back in his engineering days, he used to play with smartphones by installing custom ROMs and that passion got him into the tech industry. He still goes nuts about a smartphone knocking his door for review. Currently managing everything at Telecom Talk, Chakri is trying to master PUBG Mobile in his free time.

140
Leave a Reply

avatar
Photo and Image Files
 
 
 
38 Comment threads
102 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
54 Comment authors
AyanSandyPriyansh SinghAdil WadiaKannu pinjore haryana Recent comment authors
newest oldest most voted
Adil Wadia
Adil Wadia

Jio needs 10 Mhz chunks in Band 5 and Band 3 nationwide. When that happens Jio will be usable like the AVOID networks. At this moment Jio is struggling because they have 5 Mhz chunks in Band 3 and 5 and are purposefully keeping the broadcasting strength powered down to avoid congestion on these bands. And Jio should not add Band 1 to their portfolio. The devices are already heating up because they are constantly switching bands affecting speeds and latency both. If Jio goes 10 Mhz on Band 3 nationwide then locking your device to that band will be… Read more »

Priyansh Singh
Priyansh Singh

Off Topic: How to get Port Code in RCom (UP West-GSM)? There is No 3G in my Area. My SIM is 2G one and it is Latching onto Idea Network. I’m not able to initiate or receive Calls. Calls to Customer Care aren’t Connecting too. Idea sent me text to Port IN into their Network. But after Sending Porting Message 1901 says “Unable to Connect to Database” Can anybody Help me I’ve just 2 days to Submit Port Out Request. 31st December is Approaching really Fast. TT Readers and Admin please Guide me how to do this Task. PS: I… Read more »

Ayan
Ayan

I am not sure about that but as per my experience with airtel(new sim) you can not send any sms from new sim for few days. You should have generate the upc before getting duplicate sim.

digitized
digitized

No. You’re wrong. You cannot generate UPC from new connection or after MNP for 90 days. For a duplicate/reissued SIM on same network this does NOT apply. You can immediately get UPC.

Priyansh Singh
Priyansh Singh

I too Think that the Restriction is for New Connections and not on the Connections Already on the Network. After 90 days the Subscriber can Freely Switch to Other Network.

SS(Shivang Singh)
SS(Shivang Singh)

I too generated my UPC code after being latched onto Airtel but now there is some problem on RCOM’s side and no operator is able to fetch the UPC code. I suggest you to wait for few days else pray the problem gets resolved. However, why did it take so long for you to think of porting your number, you must remember at least that its RCOM.

Priyansh Singh
Priyansh Singh

Tried with AirTel and Idea Stores today. Said the Same Thing that after 14th Dec they can’t get UPC from RCom. Moreover, I had the SIM but the Registration on the Network Failed (I think due to non-usage of around 90 days). I tried for issuing a Duplicate SIM but in my local area no one was giving RCom SIM earlier as there were no Partner Retailers and now stating “Company Band ho gayi”. After trying a lot, I went and looked up in the State Capital. Searching all major stores, all shut shops of RCom, one Retailer finally gave… Read more »

digitized
digitized

Try on Airtel network or keep trying on both. You may also get in touch with airtel or idea stores or customer care. You can contact customer care from some friend or relative’s airtel/idea number. Best of luck!

Priyansh Singh
Priyansh Singh

Tried on AirTel but isn’t Working. I’ll definitely contact their Customer Care and see what can happen. Thank You Mate for the Information.

Recent Posts

Trai Invites Consultation on Allocation of 700 MHz Spectrum to Railways Jeopardising Rs 1 Lakh Crore Revenue

The Telecom Regulatory Authority of India (Trai) has sought views of the industry stakeholders on whether or not it should...

Oppo to Launch In-Display Camera Smartphone on June 26

Chinese smartphone manufacturer Oppo is all set to launch its new smartphone with in-display camera technology on June 26 during...

With Tata Sky Removing Multi TV Policy, the Title of Best DTH Operator Under New Trai Mandate is Open

Tata Sky is probably the best DTH service provider in the country right now because of its customer service and...