Undoing the divide - Reliance Jio merges into Rcom; promising handfuls
Added On:4/3/2013 10:27:00 AM
Reliance Communications has officially joined hands and declared the reunion of Reliance Jio with Rcom. Mukesh Ambani will be taking a re-entry in the telecom business with the partnership of Rcom and it will be using the latter’s 1,20,000 km optic fibre network to its benefit across the country.
Rs 1,200 crore will be invested by Reliance Jio for a one time indefeasible right to use RCom's optic fibre network of 1,20,000 km, which would help the latter in providing a strong foundation for its yet-to-launch 4G LTE services.
In return, Anil Ambani's RCom can use Reliance Jio's yet to be built optic fibre infrastructure in the near future.
In the Bombay Stock Exchange filling, RCom stated that the agreement provides joint working arrangement to be put in place for up gradation of the existing optic fibre network, capable of delivering next generation services like LTE.
It also adds that it is the first in an intended comprehensive framework of business cooperation between the two companies which implies that there are much more than these kinds of agreements for partnerships in the pipeline.
4G services are therefore expected to be launched by Reliance Jio by the end of this calendar year.
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