Buying a wireless network of Reliance Communications, Mukesh

Kesh Ambani's company Reliance Jio has announced to purchase Anil Ambani's Reliance Communications's selected assets.

New Delhi: Mukesh Ambani's company Reliance Jio has announced to purchase Anil Ambani's Reliance Communications's selected assets. The properties to be included include spectrum, tower, optic fiber cable network and media convergence notes. Nonetheless, it is not clear what the price of this deal is. Keep in mind that this week Anil Ambani had announced that Reliance Communication is coming out of Strategic Deb Restructuring ie SDR. With this, he assured creditors to the debtors by March 2018 and the deficit of Rs 25 thousand crore in the total debt.

Reliance Communications will use the money from the purchase to repay the loan. This is not the first time such a contract, before Mukesh Ambani took spectrum and optic fiber network from Anil Ambani's company to run his mobile business. 
Reliance Jio issued a statement saying that the process of bidding for properties of Reliance Communication was completed at two levels in which Reliance Jio beat the other claimants. Geo hopes that achieving these facilities will help him expand his wireless and fiber-based services on a large scale. Geo started Internet based mobile service (Volta) last year. Because of the free interaction and data at extremely low cost, the number of Geo customers has reached 15 million now, while the number of Airtel customers in the market is around 28 crore.

According to the agreement, Reliance Jio will get Reliance Communications and its partners

- 800/900/1800/2100 MHz band will get 122.4 MHz spectrum of 4G

Besides this, 43 thousand towers will be found

- Also 1.78 million Root KM Fiber and

- 248 media convergence nodes will also be available.

On the other hand, Reliance Communications said in its statement that the entire deal is expected to be completed in a phased manner from January to March. However, all this will depend on the timing of regulatory bodies and creditors' permission. According to the agreement, the payment will be in cash and it will also include the amount to be paid to the Department of Telecom for spectrum dues. At the same time, Reliance Jio says that due to the terms of privacy, the details of the rest of the matter will be public at the right time.

It is believed that behind this procession, Mukesh Ambani is trying to get his brother Anil Ambani immersed in debt.