Reliance Jio to take over mobile biz assets of troubled RCom

Reliance Jio to take over mobile biz assets of troubled RCom

Billionaire Mukesh Ambani on Thursday stepped in to bail out younger brother Anil Ambani’s debt-ridden Reliance Communications by acquiring spectrum, tower, optical fiber network and other wireless assets. While the two companies did not disclose the deal size, banking sources pegged the transaction value at Rs 24,000-25,000 crore.