RELIANCE COMMUNICATIONS COMPLETES THE SALE OF FIBRE ASSETS TO RELIANCE JIO INFOCOMM
Deepthi | Myequity news | Date : 27-08-2018 12:30:00 IST
Reliance Communications Limited (RCOM) 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). With successful completion of the Fibre monetization transaction, 1,78,000 Kms fibre stand transferred to RJIO.
About Reliance Communications limited:
Reliance Communications(RCOM) is a telecommunication company headquartered in Navi Mumbai, India. A subsidiary of Reliance Group, its services include GSM (voice; 2G, 3G and 4G), fixed-line broadband and voice, and direct-to-home satellite television (depending upon area in India). The company ended its 2G and 3G service (including all voice service), offering only 4G data service, on 29 December 2017 as a result of debt and a failed merger with Aircel.