02 January 2018
| Alan Burkitt-Gray
Reliance Communications (RCom) is selling off its spectrum, towers and other consumer telecoms assets to rival operator Reliance Jio for $3.77 billion in a bid to cut its debt.
RCom held the tender as creditors gathered, including the
China Development Bank and the equipment maker Ericsson. If
regulators agree, Reliance Jio should be able to take over
RCom’s mobile assets in a phased process by the
end of March, said the companies. An earlier plan to merge with
rival mobile operator Aircel foundered in October 2017.
The deal does not include GCX, which in November 2017
announced a major investment in a new subsea cable, Eagle, that will
stretch from Europe to China via India. The company is about to
announce a significant investment in data centres in Mumbai.
Capacity magazine has an interview with RCom and GCX CEO Bill
Barney in the December/January issue.
Global Cloud Xchange,