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RCom gains traction on asset sale to Jio

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NEW DELHI: Shares of Reliance Communications were up and running on Monday as the telecom major completed sale of its fibre and related infrastructure assets worth of Rs 3,000 crore to Reliance Jio.

The Anil Ambani-controlled RCom though has faced many hurdles on its path for asset sale.

With successful completion of the monetisation transaction, 1,78,000 kms of fibre stand transferred to Reliance Jio, the company told stock exchanges on Monday. The stock jumped 2.04 per cent to hit a high of Rs 19.48 on the BSE. RCom's wireless assets included 122.4 units of 4G airwaves across 850, 900, 1800 and 2100 MHz bands, over 43,000 towers and 1,78,000 route km of fibre with a pan-India footprint.

Recently, the company said it would sell an additional 65 MHz spectrum in the 800 MHz band to Jio for Rs 3,500-3,700 crore which would help it reduce its debt further, ET reported.




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