Reliance Jio will reportedly sign a contract with Nokia to purchase 5G equipment for $1.7 billion. This will be in addition to the $2.1 billion worth of equipment that Jio is buying from Ericsson as it looks to roll out 5G services across the country by 2023-end.
HSBC, JP Morgan and Citigroup are among several global banks involved to finance the 5G equipments deals with Nokia and Ericsson through syndicated offshore loans, aggregating nearly $4 billion.
