Reliance Communications Sells Rs 2,000 Crore-Assets To Reliance Jio

Reliance Communications said it completed sale of media convergence nodes and related infrastructure assets worth Rs 2,000 crore to Reliance Jio.

Reliance Communications Sells Rs 2,000 Crore-Assets To Reliance Jio

RCom said 248 MCNs were transferred to Reliance Jio.

Reliance Communications Ltd said on Thursday it completed the sale of its media convergence nodes (MCNs) and related infrastructure assets worth Rs 2,000 crore ($285.4 million) to Reliance Jio Infocomm.

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

RCom said in May it expected to sell assets worth Rs 18,100 crore ($2.58 billion) to Reliance Jio and Canada's Brookfield, after the bankruptcy appeals court stopped insolvency proceedings against the cash-crunched company.

 

© Thomson Reuters 2018


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