RCom sells Rs 2,000 crore worth assets to Reliance Jio
RCom in May it expected to sell assets worth 181 billion rupees ($2.58 billion) to Reliance Jio and Canada's Brookfield.
By : DC Correspondent
Update: 2018-08-23 06:00 GMT
India's Reliance Communications Ltd said here on Thursday it completed the sale of its media convergence nodes (MCNs) and related infrastructure assets worth 20 billion rupees ($285.4 million) to Reliance Jio Infocomm.
The company said 248 MCNs covering about 5 million sqft. of area used for hosting the telecom infrastructure were transferred to Reliance Jio.
RCom said in May it expected to sell assets worth 181 billion rupees ($2.58 billion) to Reliance Jio and Canada’s Brookfield, after the bankruptcy appeals court stopped insolvency proceedings against the cash-crunched company.