After signing a deal of Rs 1,200 Cr on Tuesday Mukhesh Ambani will seek the services of his younger brother Anil Ambani leasing the fiber optic network for a new telecom venture.
The telecom wing of Reliance Industries is all set to start its 4G services with the new deal that provides them the high speed internet from the optic cables of Reliance Communication.
"Reliance Jio Infocomm Ltd and Reliance Communications Ltd today announced the signing of a definitive agreement for approximately Rs 1,200 crore as one-time indefeasible right to use (IRU) fees for sharing RCom's nationwide inter-city fibre optic network infrastructure," the statement from Reliance Communications read.
Several optic fibres in the nation that sprawl over 1,20,000 kms will bolster the 4G services being rolled out soon by Reliance Jio Infocomm. Any services or infrastructure built by Jio Infocomm should be accessible by Reliance Communications, reciprocally, as per the deal.
Having the rights for 4G spectrum since 2010, Infotel Broadband which now renamed into Reliance Jio Infocomm has not yet launched the high speed services. RJI is approved by the government to even provide phone call services on the 4G spectrum, a loophole for Mukhesh to gain back lost ground after the brothers split in 2005 from Reliance communications.
(AW- Anil)
