Am­bani broth­ers seal RJio-RCom deal

India Business Journal - - NEWS ROUND-UP -

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,

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