RCom's plans to sell infrastructure assets to Jio get CCI nod
By PTI | Published: 09th March 2018 12:38 AM |
NEW DELHI: The proposed mega deal for the sale of debt-laden Reliance Communications' (RCom) infrastructure assets to Reliance Jio is learnt to have received the approval of the anti-trust regulator CCI, according to sources.
The proposal has got a green signal from the Competition Commission of India (CCI), two people familiar with the development said.
In December 2017, Mukesh Ambani-led Reliance Jio signed a pact to acquire mobile business assets including spectrum, mobile towers and optical fibre network of RCom-owned by his younger brother Anil Ambani.
While neither Jio nor RCom had divulged the size of the deal, sources have pegged the transaction value at Rs 18,000 crore.
RCom statement, at that time, had said the deal packs in 122.
4 MHz of 4G spectrum in the 800/900/1800/2100 MHz bands, over 43,000 towers, 1,78,000 kilometres of fiber and 248 media convergence nodes.
At the time of the deal announcement, the companies had also said that the transaction is likely to be completed in a phased manner by March 2018.
However, an arbitration panel in an interim order recently, restrained RCom from asset sale or transfer, without its "specific permission".