India's Reliance Jio to buy RCom's wireless assets in $3.75 billion deal

India's Reliance Jio to buy RCom's wireless assets in $3.75 billion deal

Reliance Communications has signed a deal to sell its wireless assets, Reliance Jio Infocomm, for a total value of about 240 billion rupees ($ 3.75 billion),

Although Mukesh Ambani is the wealthiest person in India, he has shown his love for his brother and he has contracted with his company that he has purchased the tower business of his Reliance Communications completely, which means that he has enough money to free Anil Ambani from debt. 

Reliance Jio Infocomm (Jio), a subsidiary of Reliance Industries on Thursday purchased a clutch of wireless assets from Reliance Communications (RCom) including wireless spectrum, tower, fiber and media convergence nodes (MCNs).

 Most notably, the agreement includes the sale of 43,000 towers to Reliance Jio. The deal places company in a favorable position as RCom's assets are valuable.

The sale, if finalized, would mark a big step in Reliance Communications' quest to cut down its debt, which had sent its shares to record lows and led debtors like China Development Bank (CDB) to start insolvency proceedings over miss payments.


China Development Bank said earlier on Friday it is in talks with Reliance Communications or R.Com as it is called. RCom shares rose as much as 29.9 percent on Friday while Reliance Industries rose as much as 0.9 percent.

This communication between Reliance Communications and Reliance Jio is expected to be very beneficial for both the companies.

Anil Ambani's company will be able to get rid of debt, on the other hand, Mukesh Ambani has a new tower for his Reliance Jio Comm.

 Will not have to stand so this deal will be quite profitable for both companies

Yashoda is going to make the deal very sad for companies like Vodafone Airtel and BSNL. For the same Anil Ambani, this deal is like a stream of nectar

Together with the hands, both the brothers have once again given a blow to companies like Bharti Airtel, Vodafone, BSNL, and Uninor.


  If both companies join together then any telecom company, BSNL, will be left alone, they will not be able to stand up to the point of view.