Ambani Brothers join Hands in Telco Business
A new realignment in India’s business sector was witnessed, as billionaire Ambani brothers forgot their past feud to join hands and strike a Rs 1,200-crore deal in the telecom sector. The deal will make sure that Mukesh Ambani’s Reliance Industries will use the optic fibre network provided by Anil Ambani’s Reliance Communications Ltd.
Reliance Jio Infocomm Ltd, owned by Mukesh Ambai, will roll out the much-awaited 4G services across the country, using Anil Ambani’s optic fibre network. RCom has 1,20,000 kilometres inter-city fibre optic network in India, which will give a big boost to Reliance Jio Infocomm’s 4G plan.
As per the agreement, RCom will have access to optic fibre infrastructure to be built by Reliance Jio Infocomm in the future, making it completely reciprocal.