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Reliance Jio signs deal to buy RCom’s wireless assets

While we were away... The Mukesh Ambani-led Reliance Jio announced it will buy the wireless infrastructure assets that include towers, optic fibre cable network, spectrum, and media convergence nodes (MCNs)* of Reliance Communications (RCom) and its affiliates in an all-cash deal. The debt-ridden RCom is owned and run by the younger Ambani sibling, Anil. In an acquisition transaction related to one listed company buying another, it's strange that no acquisition price has been publicly disclosed to shareholders. Transparency, anyone? However, The Economic Times says, not naming any sources, that the deal is pegged at Rs 24,000 crores. A press statement from RCom mentions that after the purchase Jio will gain over 178,000 kilometres of optic fiber, more than 43,000 cellphone towers and 122.4 MHz of 4G Spectrum in the 800/900/1800/2100 MHz bands. The newly acquired assets are "strategic in nature…

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