RCOM seeks shareholders’ approval for its asset monetisation plan

Reliance Communications (RCOM) has sought shareholder approval to sell its assets including spectrum, towers, optic fibre network and other wireless infrastructure. The move follows the signing of a binding definitive agreement between RCOM and RJIL as per which RCOM will sell 122.4 MHz of 4G spectrum in the 800, 900, 1800 and 2100 MHz bands; over 43,000 towers; around 178,000 route km of fibre with a pan-Indian footprint and 248 media convergence nodes, covering around 5 million square feet of space to RJIL. RCOM is also initiating the monetisation of its other assets in consultation with the lenders. It expects to receive the shareholders’ nod for its asset monetisation plan by February 2018.