• Sunday, August 14, 2022

Business

India’s RCom Sells £ 221.63 million Worth Assets to Reliance Jio

India’s RCom Sells 221.63 Million Pound Worth Assets to Reliance Jio.

By: Radhakrishna N S

India’s Reliance Jio Infocomm Ltd has completed the purchase process of Media Convergence Nodes (MCNs) and related infrastructure equipment worth 221.63 million pounds from Reliance Communications Ltd (RCom) on Thursday (23). RCom said that it has transferred 248 MCNs covering about 5 mn square feet area used for hosting the telecommunication infrastructure to Reliance Jio. In May this year, RCom had informed that it expected to sell media assets worth 2.01 billion pounds to Reliance Jio and Canada’s Brookfield (BAMa.TO) after the bankruptcy petition court halted insolvency proceedings against the cash crisis hit RCom.

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