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RJIL buying RCom’s towers, spectrum and other assets

RJIL
Reliance Jio buying RCom’s towers, spectrum and other Wireless assets

RJIL, a subsidiary of Reliance Industries Ltd. has decided to sign a definitive agreement for acquiring certain assets of RCom and its affiliates.

RJIL

As a consequence of that transaction, Reliance Jio Infocomm Ltd (RJIL) will acquire assets under the following four categories- mobile towers, optic fibre cable network, spectrum and media convergence nodes.

RJIL said, “These assets are strategic in nature and are expected to contribute significantly to the large-scale roll-out of wireless and fibre to home and enterprise services by RJIL.”




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The Monetisation and Acquisition Process

The lenders of RCom mandated an asset monetisation process for the assets of Rcom. The appointed SBI Capital Markets Ltd. to run the operation. An independent group of industry experts supervise the process. In the two-stage bidding process, RJIL emerged as the highest bidder.

“The acquisition is subject to receipt of requisite approvals from governmental and regulatory authorities, consents from all lenders, the release of all encumbrances on the said assets and other conditions precedent. The consideration is payable at completion and is subject to adjustments as specified in the agreement,” RJIL said.

Also, Check Jio Rs.199 plan

This transaction of RJIL got advised by Goldman Sachs, Citigroup Global Markets, JM Financial Private Limited, Davis Polk & Wardwell LLP, Cyril Amarchand Mangaldas, Khaitan & Co and Ernst & Young.

So that is all we have to say for now regarding Jio buying RCom’s assets. If you have any questions regarding this, please write them in the comments section. We will try to respond to you as soon as we can. If you liked our post, please like and share it. And subscribe to our site and put the notifications on if you want to receive any further future technological update. Thank You!!!

Author: Dipjyoti Majumdar

I am a computer science student,a tech geek. Love understanding technology and spread the little things I get to know everyday.

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