Ambani brothers seal RJio-RCom deal
Mukesh Ambaniowned Reliance Jio Infocomm (RJio) will buy a majority of the wireless assets of younger brother Anil Ambani's Reliance Communications (RCom), according to media releases of the two telecom companies. According to the deal, RCom will sell its assets, including 122.4 mhz of 4G spectrum in the 800, 900, 1,800 and 2,100 mhz bands and over 43,000 towers. The transaction, the financial details of which have not been disclosed, will give RJio access to valuable 4G spectrum. It will also help RCom reduce its debt of over Rs 45,000 crore.
Carmichael coal mine in Australia after failing to secure a cheap government loan for the A$16.5-billion ($13 billion) project. The move marks the latest blow to the long-delayed Carmichael mine, which has yet to line up financing as a growing list of Australian and international banks, including three Chinese State lenders,