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Ambani brothers sign ‘mega’ telecom deal

Posted: 04 Apr 2013     Print Version  Bookmark and Share

Keywords:Ambani  fibre optic network  4G 

Billionaire Ambani brothers Mukesh and Anil have announced a long-awaited deal, ending an eight-year-long bitter feud. This is the first business deal since they split Dhirubhai Ambani empire in 2005.

Mukesh Ambani-led Reliance Jio Infocomm Ltd and Anil Ambani’s Reliance Communications Ltd (RCOM) have signed a Rs.1,200 crore deal as one time indefeasible right to use (IRU) fees for sharing RCOM’s nationwide inter-city fibre optic network infrastructure.

Under the deal, Reliance Jio Infocomm will utilise multiple fiber pairs across RCOM’s 1,20,000 kilometres inter-city fibre optic network for the launch its 4G services.

RCOM will in turn have reciprocal access to optic fibre infrastructure to be built by Reliance Jio Infocomm in the future.

“This agreement is the first in an intended comprehensive framework of business co-operation between Reliance Jio Infocomm and Reliance Communications to provide for optimal utilisation of the existing and future infrastructure of both companies on reciprocal basis, including inter alia, inter-city fibre, intra-city fibre, towers and related assets,” the company said in its statement.

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