Reliance Jio to acquire wireless infra assets of RCom

RCom will utilise proceeds of monetisation of cash deal solely for payment of debt to its lenders

Mukesh Ambani-led Reliance Jio will acquire mobile business assets including spectrum, mobile towers and optical fibre network of Reliance Communications-- owned by his younger brother Anil Ambani.

"Reliance Jio Infocomm Limited, a subsidiary of Reliance Industries Limited, today announced signing of definitive agreement for the acquisition of specified assets of Reliance Communications Limited and its affiliates," Reliance Jio said in a statement.

The deal is slated to bring relief to RCom, which is reeling under debt of around Rs 45,000 crore.

Reliance Jio or its nominees will acquire assets under four categories - Towers, Optic Fiber Cable Network ("OFC"), Spectrum and Media Convergence