Ambani brothers in new deal, this time for telecom towers
The two telecom ventures headed by the Ambani brothers, Mukesh and Anil, Friday announced yet another accord - this time to share the nation-wide telecom towers infrastructure of Reliance Communications
The aggregate value is at over Rs.12,000 crore (more that $2 billion) during the lifetime of the deal, the companies said.
"Under the terms of the agreement, Reliance Jio Infocomm will utilise up to 45,000 ground and rooftop-based towers across Reliance Communication's nationwide network for accelerated roll-out of its state-of-the-art 4G services," a company statement said.
"The agreement provides for joint working arrangements to configure the scope of additional towers to be built at new locations to ensure deep penetration and seamless delivery of next generation services."
This accord follows the inter-city optic fiber sharing agreement already signed in April as part of a comprehensive framework of business co-operation between Mukesh Ambani-led Reliance Jio Infocomm and Anil Ambani-led Reliance Communications.
The $220-million agreement was seen as helping Reliance Jio Infocomm to accelerate the roll-out of fourth generation (4G) telecom services.
Reliance Group of Anil Ambani last month said consortium led by Samena Capital was in last stages of due diligence to buy into its global communications arm Reliance Gobalcom - a deal, which market sources said, could value the company at $1-1.2 billion.
Reliance Communications has a customer base of over 130 million, including more than 2.5 million individual overseas retail customers. The company's corporate clientele includes 35,000 Indian and multinational corporations, and over 800 global, regional and domestic carriers.
Reliance Jio has broadband wireless spectrum in 22 out of 23 telecom circles in India, capable of offering 4G services. The pacts with Reliance Communications is expected to help it offer services soon.