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.
Soon after the Cabinet Committee on Economic Affairs (CCEA) announced the allowance of price raise to be affected by April 2014, Reliance Industries BSE counted a gain of 1.57 percent which is almost...
Information provided on this page has been independently obtained from sources believed to be reliable. However, such information may include inaccuracies, errors or omissions.ITVoir.com, and its affiliates, information providers or content providers, shall have no liability to you or third parties for the accuracy, completeness, timeliness or correct sequencing of information available on this page, or for any decision made or action taken by you in reliance upon such information, or for the delay or interruption of such information. ITVoir.com,its affiliates, information providers and content providers shall have no liability for investment decisions or other actions taken or made by you based on the information provided.