Saturday, 20 October 2018

RCom completes the sale of its fibre optic network to Reliance Jio

By Chris Kelly, Total Telecom
Tuesday 28 August 18

With the acquisition, Reliance Jio is perfectly placed to proceed with its JioGigaFibre roll out later this year

Indian telecommunications firm Reliance Communications (RCom) has completed the sale of its fibre optic network to Reliance Jio, in a deal worth around $4.2 billion. RCom has been looking to sell off its telecoms assets to alleviate spiralling levels of debt and the sale of its fibre optic network to Jio will go some way to balancing the company's balance sheet…

Indian telecommunications firm Reliance Communications (RCom) has completed the sale of its fibre optic network to Reliance Jio, in a deal worth around $4.2 billion.

RCom has been looking to sell off its telecoms assets to alleviate spiralling levels of debt and the sale of its fibre optic network to Jio will go some way to balancing the company's balance sheet.

“With the successful completion of the fibre monetisation transaction, 1,78,000 kms fibre stand transferred to Reliance Jio,” The Economic Times of India quoted an RCom spokesperson as saying

Last week, RCom was said to be mulling two separate bids for its remaining telecoms architecture (excluding its fibre optic network), with both bids reported to be in excess of $1.1 billion. 

Since its radical disruption of the Indian mobile market, Reliance Jio has now turned its attention to the country's fixed line sector, pledging to roll out full fibre to the home services across 1,100 towns and cities.

"JioGigaFiber will be the largest greenfield fixed-line broadband rollout anywhere in the world," Reliance Jio's CEO recently told attendees at the company's annual conference.

Also in the news: 

Reliance Jio surges past 215 million customers

RCom mulls $1.1bn bids for remaining telecoms infrastructure

RCom offloads spectrum to reliance Jio 

Since you're here...

...the Telecoms industry is characterised by constant change and evolution. That's why it's crucial for telecoms professionals to keep up-to-date with what is happening. Join 35,000+ of your peers and sign up to our free newsletter service today, to be in the know about what is going on. PLUS, as a member you can submit your own press releases!

See all membership options

Please enable JavaScript to view the comments powered by Disqus.

Newsletter signup

Quickly get on board and up to date with the telecoms industry