Reliance Jio Infocomm Limited (RJIL) is all set to acquire specified assets of RCom and it’s affiliates. RJIL a subsidiary of Reliance industries (RIL) today announced the signing of the deals regarding these assets.
The acquisition as the agreement says will be under 4 categories i.e. Towers, Optic Fiber cable network (OFC), spectrum and final one is media convergence Nodes (MCN). These assets are a must need for RJIL to spread it’s already growing user base. As we know RJIL is on it’s way to roll out wireless and Fiber to home as well as enterprise services. So we can see the strategic benefit these assets will have on it’s business.
The sale of the assets of RCom was mandated by it’s lenders and is being run by the appointed SBI capital markets. It was a bidding process supervised by an independent group of industry experts. RJIL was the successful bidder. It was a two stage bidding process in which RJIL took the opportunity to win the contract.
Regarding the size of the deal there isn’t any details but I am sure this is for sure going to increase the size of RJIL with more better services for it’s users and a larger user base.