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RCom's plans to sell infra assets to Jio get CCI nod

Press Trust of India  |  New Delhi 

The proposed mega deal for the sale of debt-laden Communications' (RCom) infrastructure assets to is learnt to have received the approval of the anti-trust regulator CCI, according to sources.

The proposal has got a green signal from the (CCI), two people familiar with the development said.

In December 2017, Mukesh Ambani-led signed a pact to acquire mobile business assets including spectrum, mobile towers and network of RCom-owned by his younger brother

While neither nor RCom had divulged the size of the deal, sources have pegged the transaction value at Rs 18,000 crore.

RCom statement, at that time, had said the deal packs in 122.4 of 4G spectrum in the 800/900/1800/2100 bands, over 43,000 towers, 1,78,000 kilometres of fiber and 248

At the time of the deal announcement, the companies had also said that the transaction is likely to be completed in a phased manner by March 2018.

However, an arbitration panel in an interim order recently, restrained RCom from asset sale or transfer, without its "specific permission".

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 08 2018. 23:45 IST