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R.com sold Rs.2000 crore assets to Jio

R.com sold Rs.2000 crore assets to Jio

Reliance communications announced that it has sold Media Convergence Nodes (MCN) to Reliance Jio  according to the plan.

R.com that belongs to Anil Ambani sold Rs.2000 crore worth of assets, including 248 nodes and other basic infrastructure to Reliance Jio that belongs to Mukhesh Ambani .5 million square feet of area is to be utilised for basic telecom needs. All these things got transferred to Jio, according to the R.com statement. Rs.25000 crore worth of assets are yet to be sold by R.com.

Previously R.com under the leadership of Anil Ambani had an agreement with Jio. In order to reduce debts, R.com had agreed to sell wireless spectrum, Tower, fibre and MCN assets to Jio. This deal was announced in December 2017. 122.4 mega hertz 4G spectrum, 43000 towers, 1,78,000 km fibre, 248 media convergence nodes sale was in this deal. Today this sale of nodes was completed.

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