 "Mukesh and Anil Ambani")
Mukesh Ambani’s Reliance Jio announced a deal on Thursday to acquire younger brother Anil Ambani-owned Reliance Communications’s (RCom’s) wireless infrastructure assets, including towers and spectrum, at an estimated price of Rs 20,000-24,000 crore. The historic deal between the brothers came on their father Dhirubhai Ambani’s 85th birth anniversary.
The two companies have signed binding agreements and the proceeds would be used to pre-pay RCom’s bank loans.
“Jio emerged as the highest bidder in a transparent process conducted under the supervision of a high-powered bid evaluation committee, comprising experts from banking, telecom and law. The company will utilise the proceeds of
