Reliance Communications has signed an agreement to sell its wireless assets to Reliance Jio Infocomm.

It is expected that the deal will be closed in a phased manner in January-March 2018, subject to lenders and other applicable approvals.

Reliance Jio stated, “Reliance Jio Infocomm Limited (RJIL) or its nominees will acquire assets under 4 categories – Towers, Optic Fiber Cable Network (OFC), Spectrum and Media, Convergence Nodes (MCN) from RCom and its affiliates. These assets are strategic in nature and are expected to contribute significantly to the large scale roll-out of wireless and Fiber-to-Home and Enterprise services by RJIL.”

Furthermore, RCom stated that, the deal consideration includes cash payment and transfer of deferred spectrum installments payable to Department of Telecommunications.

Read EquityPandit’s Technical Analysis of Indian Stock Market