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  Business   Companies  23 Aug 2018  RCom sells Rs 2,000 crore worth assets to Reliance Jio

RCom sells Rs 2,000 crore worth assets to Reliance Jio

PTI
Published : Aug 23, 2018, 11:30 am IST
Updated : Aug 23, 2018, 11:34 am IST

RCom in May it expected to sell assets worth 181 billion rupees ($2.58 billion) to Reliance Jio and Canada’s Brookfield.

The company said 248 MCNs covering about 5 million sq.ft. of area used for hosting the telecom infrastructure were transferred to Reliance Jio.
 The company said 248 MCNs covering about 5 million sq.ft. of area used for hosting the telecom infrastructure were transferred to Reliance Jio.

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.

Tags: reliance communications, assets, reliance jio, sale