August 23, 2018 / 5:40 AM / 4 months ago

India's RCom sells $285 mln worth assets to Reliance Jio

Aug 23 (Reuters) - India's Reliance Communications Ltd said here on Thursday it completed the sale of its media convergence nodes (MCNs) and related infrastructure assets worth 20 billion rupees ($285.4 million) to Reliance Jio Infocomm.

The company said 248 MCNs covering about 5 million sq.ft. of area used for hosting the telecom infrastructure were transferred to Reliance Jio.

RCom said in May it expected to sell assets worth 181 billion rupees ($2.58 billion) to Reliance Jio and Canada's Brookfield, after the bankruptcy appeals court stopped insolvency proceedings against the cash-crunched company. ($1 = 70.0900 Indian rupees) (Reporting by Sharnya G in Bengaluru; Editing by Gopakumar Warrier)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below