Mukesh Ambani-promoted Reliance Jio Infocomm has signed a Rs 1,200 crore network sharing deal with Reliance Communications, which is owned by Anil Ambani, for rolling out 4G services.
The deal does not include any equity infusion.
As per the long-term agreement, Reliance Communications, which is trying to prune its debt, will benefit from approximately Rs 1,200 crore as one time indefeasible right to use (IRU) fees for sharing its inter-city fiber optic network infrastructure.
Reliance Jio Infocomm, which is in the process of launching 4G in key cities across India, will utilize multiple fiber pairs across Reliance Communications’ 1,20,000 kilometres inter-city fiber optic network to provide backbone for rolling out its 4G / LTE services.
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The deal does not include any equity infusion.
As per the long-term agreement, Reliance Communications, which is trying to prune its debt, will benefit from approximately Rs 1,200 crore as one time indefeasible right to use (IRU) fees for sharing its inter-city fiber optic network infrastructure.
Reliance Jio Infocomm, which is in the process of launching 4G in key cities across India, will utilize multiple fiber pairs across Reliance Communications’ 1,20,000 kilometres inter-city fiber optic network to provide backbone for rolling out its 4G / LTE services.
Read More