RELIANCE COMMUNICATIONS COMPLETES THE SALE OF MCNs AND RELATED INFRASTRUCTURE ASSETS TO RELIANCE JIO INFOCOMM
Deepthi | Myequity news | Date : 23-08-2018 14:00:00 IST
Reliance Communications Limited (RCOM) today 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 Limited (RJIO).
With successful completion of the MCN monetization transaction, 248 MCNs covering 5 Million sq. ft. of area used for hosting the telecom infrastructure stand transferred to RJIO.About Reliance Communications limited:
Reliance Communications (stylised as 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.