Jio Reliance Communications r-com

There is a lot of hype already regarding the closing of Reliance Communication. It caused a lot of inconvenience to its users. However, no that the company is no more, the towers owned buy the Reliance Communications are just standing idle. So, Mukesh Ambani, owner of Jio, accepted to buy those towers and some of the wireless spectrum for RS 44,000 crore.

Both the companies have signed a binding definitive agreement and the transaction is expected to close in a phased manner in January-March 2018, RCom said in a statement.

According to the statement by Jio, it will be acquiring assets from the Reliance Communications and its affiliates under four towers, optic fiber cable network , spectrum and media convergence nodes. This will allow Jio to launch their Jio Giga Fiber services across India much faster and in addition it will also improve the connectivity across the country.