• Thursday, December 01, 2022

Asia

RJio to buy RCom’s wireless assets

By: Eastern Eye Staff

Mukesh Ambani-led Reliance Jio Infocomm (RJio) has emerged as a white knight to acquire the wireless assets of debt-laden Reliance Communications (RCom), controlled by his younger sibling, Anil. Reliance Communications (RCom) is reeling under high debt of about Rs 44,000 crore(million). RJio was the front-runner to acquire RCom’s assets. The announcement was made on Thursday, coinciding with the 85th birth anniversary of Reliance Industries Ltd founder Dhirubhai Ambani. This is one of a series of deals between the brothers – Mukesh and Anil who had parted ways in 2005, carving the Reliance empire into two. Both the companies have signed…

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