Mumbai, June 7: Anil Ambani and Mukesh Ambani had made a deal of 12000 crore of telecom tower on Friday. Billionaire Ambani brothers on Friday announced for launch of his telecom venture. Reliance Industries Ltd’s telecom arm will lease up to 45,000 mobile masts from Reliance Communications Ltd in a deal over a lifetime project.
The two groups said, “Under the terms of the agreement, Reliance Jio Infocomm will utilise up to 45,000 ground and rooftop based towers across RCom’s nationwide network for accelerated roll-out of its state-of-the-art 4G services.”
As every one knows that Reliance Jio Infocomm is the only company which had won a pan-India spectrum for 4G services in 2010 but is yet to start commercial services. The deal comes two months after the Ambani brothers had struck their first commercial deal when Mukesh agreed to hire Anil’s optic fibre network for launch of his telecom venture. The pact was valued at Rs 1,200 crore.
This pact follows the inter-city optic fibre sharing agreement already signed in April 2013 as part of a comprehensive framework of business co-operation between Reliance Jio Infocomm and Reliance Communications, it added.
Shares of RComm were trading 0.47 per cent lower at Rs 117.50, while RIL was quoting 0.82 per cent higher at Rs 798.80 on the BSE in late morning trade.
It is also known as after the death of the founder of Reliance Industries, Dhiru Bhai Ambani these two Anil Ambani and Mukesh Ambani had look after entire business where Mukesh Ambani was Managing Director and Chairman and Anil Ambani was the Vice-President of company.
Bureau Report
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