Reliance Communications (RCom) is likely to sign an intra-city fibre-optic sharing deal with Reliance Jio Infocomm in the next couple of months, a person familiar with the matter said on Sunday, a pact that will help the former pare its huge debt and the latter to roll out telecom services faster.
The agreement, which will allow Reliance Jio to offer telecom services using RCom's optic fibre network within a city, could net the latter about Rs 3,000 crore to Rs 3500 crore, the person told ET, asking not to be named. He added that the funds would come in about a month or two from the deal being signed.
Reliance Communications has its networks in all Indian cities. Reliance Jio, on its part, is preparing to launch its own telecom services across India after buying a company that won licences in 2010 and bandwidth to offer broadband wireless services across the country.
This would be the third agreement between the two companies. In June, RCom, India's third-largest mobile phone company, signed a Rs 12,000-crore deal to share its telecom towers with Reliance Jio, owned by Mukesh Ambani. The payment would be spread over 15 years, or the life of the towers.
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