Anil Ambani-led Reliance Communication’s bid (RCom) to sell its wireless business and associated infrastructure to Reliance Jio has been approved by the Competition Commission of India (CCI).
The all-cash deal between RCom and Jio was finalised in January this year, and will involve the take over of towers, optic fibre cable network, spectrum, and media convergence nodes. While neither Jio nor RCom had divulged the size of the deal, media reports have pegged its value at Rs 18,000 crore (US$2.8 billion).
RCom was debt-laden and this deal would reduce its losses. It recorded major losses in previous quarters, but its planned exit from consumer business, which comprised of wireless, direct to home and PCO, helped cut its losses up to 95% in the quarter ended December 30, 2017.
Full Content: Brink Wire
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Meta Begins Defense After FTC Concludes Case in Landmark Antitrust Trial
May 15, 2025 by
CPI
UK Data Bill Still No Closer to Passage As Parliamentary ‘Ping-Pong’ Drags On
May 15, 2025 by
CPI
Regeneron Pharmaceuticals Awarded $271.2M in Damages Against Amgen
May 15, 2025 by
CPI
FTC Chair Proposes 15% Staff Reduction Amid Budget Constraints
May 15, 2025 by
CPI
UK Urges Antitrust Watchdog to Prioritize Growth and Clarity in Business Regulation
May 15, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Healthcare Antitrust
May 14, 2025 by
CPI
Healthcare & Antitrust: What to Expect in the New Trump Administration
May 14, 2025 by
Nana Wilberforce, John W O'Toole & Sarah Pugh
Patent Gaming and Disparagement: Commission Fines Teva For Improperly Protecting Its Blockbuster Medicine
May 14, 2025 by
Blaž Višnar, Boris Andrejaš, Apostolos Baltzopoulos, Rieke Kaup, Laura Nistor & Gianluca Vassallo
Strategic Alliances in the Pharma Sector: An EU Competition Law Perspective
May 14, 2025 by
Christian Ritz & Benedikt Weiss
Monopsony Power in the Hospital Labor Market
May 14, 2025 by
Kevin E. Pflum & Christian Salas