RCom's plans to sell infrastructure assets to Jio get CCI nod 

While neither Jio nor RCom had divulged the size of the deal, sources have pegged the transaction value at Rs 18,000 crore.

Published: 09th March 2018 12:38 AM  |   Last Updated: 09th March 2018 12:38 AM   |  A+A-

Reliance Jio (Photo | Reuters)

By PTI

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".

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.