CCI clears RCOM’s proposal to sell assets to RJIL

The Competition Commission of India has cleared Reliance Communications’ (RCOM) proposal for the sale of assets to Reliance Jio Infocomm Limited (RJIL). The proposal includes the sale of RCOM’s towers, fibre, spectrum holdings and media convergence nodes. RCOM is likely to receive Rs 180 billion from the asset sale which will be used to pay its lenders. According to the deal, 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.