RCom completes sale of fibre assets worth ₹3,000 cr to Reliance Jio

Anil Ambani-led Reliance Communications (RCom) on Monday said it has completed the planned sale of optical fibre assets worth ₹3,000 crore, to Mukesh Ambani-backed Reliance Jio Infocomm (RJIO).

The announcement marks the wrapping-up of yet another portion of a larger deal inked between RCom and Reliance Jio in December last year, that involved the sale of wireless spectrum, tower, fibre and media convergence nodes.

In all, the mega deal packed in 122.4 MHz of 4G spectrum in the 800/900/1800/2100 MHz bands, over 43,000 towers, 1,78,000 kilometres of fibre and 248 media convergence nodes for an estimated price tag of ₹25,000 crore.

“Reliance Communications Limited today announced the completion of the sale of its fibre assets and related infrastructure assets, worth ₹3,000 crore, to Reliance Jio Infocomm Limited (RJio),” Reliance Communications said in a BSE filing.

With the conclusion of fibre monetisation deal, 1,78,000 kilometers fibre stand transferred to RJio, which is gearing up to offer ultra high-speed fixed line fibre broadband for homes and enterprises across 1,100 cities. Last week, RCom had announced completion of the sale of its media convergence nodes and related infrastructure assets, worth ₹2,000 crore to RJio Infocomm.

RCom is undergoing the debt resolution process under the Insolvency and Bankruptcy Code, 2016. RCom had also announced that it will repay holders of $300 million bonds through a combination of cash and bonds of its overseas firm.

NEW DELHI: