It is reported that Mukesh Ambani’s Reliance Industries (RIL) may likely to bid for the assets of his brother Anil Ambani’s Reliance Communications(RCom). Mukesh Ambani’s Reliance Industries which owns Reliance Geo has interested in taking over RCo’s airwaves, towers and even Land assets of Anil Ambani.
Reliance Jio had earlier tried to acquire RCom’s 122.4 MHz of spectrum in the 850 MHz band for Rs 7,300 crore, but the deal was shelved after the Department of Telecom (DoT) did not grant approval. RIL has expressed its interest to take over RCom’s 43,000 towers and wireless infrastructure for a price of 18,000 crore rupees.
The RCom has filed bankruptcy after it failed to asset mo=netisation plans. The lenders have claimed around 88,000 crore rupees in RCom and its two units Reliance Telecom and Reliance Infratel.