Mukesh Ambani resigns to brother Anil Ambani, Jio has purchased RCom's mobile, tower business

This deal is being seen as a big relief for Mukesh Ambani's younger brother Anil Ambani's company RCom. RCom is overwhelmed with a heavy burden of about Rs 45,000 crore and is engaged in efforts to repay it for a long time.

New Delhi: Mukesh Ambani-led Reliance Jio has made a deal to buy Reliance Communications (RCom) spectrum, mobile tower and other mobile business assets including optical fiber network. This deal is being seen as a big relief for Mukesh Ambani's younger brother Anil Ambani's company RCom. RCom is overwhelmed with a heavy burden of about Rs 45,000 crore and is engaged in efforts to repay it for a long time. Reliance Jio has informed about this deal in a statement. The company has said that he has made a certain agreement about this.

Reliance Jio to buy four types of assets

It has been stated in Geo's statement that Geo or its names and units will purchase four categories -Tower, Optical Fiber Cable Network, Spectrum and Media Convergence Nodes (ACN) Assets for RCom and its associated units under this transaction. Geo says these assets are of strategic importance and this will help Geo to start wireless and 'fiber to home' and enterprise services on a large scale.

The approval of the government and the regulatory authority for this transaction has to be taken. Geo says that the process of acquiring RCom's assets was under the supervision of an independent group of industry experts and Geo has emerged as a successful bidder in two rounds of tender process.

Relief to DB RCom with debt burden 

It is worth mentioning that with the burden of debt, DB RCom announced on Tuesday that it will finalize a new deal with the borrowers on Tuesday. He had said that under the new system, he would raise about 40,000 crore from the sale of assets.

Anil Ambani had said that this revival scheme was also supported by the Chinese bank which dragged the company into the National Company Law Tribunal (NCLT) for failing to repay $ 1.8 billion in debt.