Reliance Jio Infocomm Ltd appears to have emerged as the highest bidder
for most of the assets put on the block by the beleaguered Anil
Ambani-promoted Reliance Communications Ltd (RCom), three people aware
of the development said.
“Bids have been received for all five asset packages. Reliance Jio has emerged as the highest bidder for 3-4 of the five asset packages of Reliance Communications. It seems unlikely that any other company can outbid Reliance Jio,” said one of the three people cited above.
A banker, the second person cited above, confirmed that Reliance Jio
was the highest bidder and that the Mukesh Ambani-led firm has shown
interest in buying optical fibre assets, spectrum and tower
infrastructure.
“Others did not match the price that Reliance Jio was willing to offer,” this person added.
The third person mentioned above also said that the company is interested in acquiring spectrum, tower assets and optic fibre for which it has a sharing or trading agreement with the Anil Ambani-promoted firm.
RCom’s assets on the block include its real estate, fibre network, enterprise business, towers and spectrum.
RCom has already sold its direct-to-home business Reliance Digital TV and announced optimization of its 2G and 3G wireless operations.
“Bids have been received for all five asset packages. Reliance Jio has emerged as the highest bidder for 3-4 of the five asset packages of Reliance Communications. It seems unlikely that any other company can outbid Reliance Jio,” said one of the three people cited above.
“Others did not match the price that Reliance Jio was willing to offer,” this person added.
The third person mentioned above also said that the company is interested in acquiring spectrum, tower assets and optic fibre for which it has a sharing or trading agreement with the Anil Ambani-promoted firm.
RCom’s assets on the block include its real estate, fibre network, enterprise business, towers and spectrum.
RCom has already sold its direct-to-home business Reliance Digital TV and announced optimization of its 2G and 3G wireless operations.
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