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CCI gives green signal to RCOM’s proposal to sell assets to RJIL

March 09, 2018

 

The Competition Commission of India (CCI) has cleared Reliance Communications’ (RCOM) proposals for the sale of assets to Reliance Jio Infocomm Limited (RJIL).

The proposal includes the sale of RCOM’s towers, India fibre, spectrum holdings and media convergence nodes. RCOM is likely to receive Rs 180 billion from the asset sale which will be used to pay its lenders.

According to the deal, RCOM will sell 122.4 MHz of 4G Spectrum in the 800/900/1800/2100 MHz bands; over 43,000 towers; around 178,000 route kilometre of fibre with pan India footprint and 248 media convergence nodes, covering around 5 million sq ft space to RJIL. RCOM is also initiating the monetisation of its other assets in consultation with the lenders.

 
 

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