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Showing posts with the label Reliance Jio emerges as highest bidder for RCom assets

Reliance Jio emerges as highest bidder for RCom assets

Reliance Jio Infocomm Ltd appears to have emerged as the highest bidder for most of the assets put on the block by the beleaguered Anil Ambani-promoted Reliance Communications Ltd (RCom), three people aware of the development said. A banker, the second person cited above, confirmed that Reliance Jio was the highest bidder and that the Mukesh Ambani-led firm has shown interest in buying optical fibre assets, spectrum and tower infrastructure. “Others did not match the price that Reliance Jio was willing to offer,” this person added. The third person mentioned above also said that the company is interested in acquiring spectrum, tower assets and optic fibre for which it has a sharing or trading agreement with the Anil Ambani-promoted firm. Emails sent to RCom and Reliance Jio remained unanswered till press time. RCom’s assets on the block include its real estate, fibre network, enterprise business, towers and spectrum. Reliance Industries Ltd, Reliance Jio’s parent, is c...