Reliance Jio Infocomm, RCOM signs deal worth Rs 1,200 crore

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Reliance Jio Infocomm, RCOM signs deal worth Rs 1,200 crore
Reliance Communications: Quotes, News
BSE 23.35BSE Quote0.75 (3.21%)
NSE 23.35NSE Quote0.75 (3.21%)
Reliance Jio Infocomm Ltd and Reliance Communications Ltd today announced the signing of a definitive agreement for approximately Rs 1,200 crore for sharing RCOM's nationwide inter-city fibre optic network infrastructure.

Under the terms of the agreement, Reliance Jio Infocomm will utilise multiple fibre pairs across RCOM's 1,20,000-km inter-city fiber optic network to provide 4G services.

Shares of the Reliance Communications ended higher by 10.86% at Rs 63.30 on BSE. It touched an intra-day high of Rs 66.90.

 Reliance Communications will, in turn, have reciprocal access to optic fiber infrastructure to be built by Reliance Jio Infocomm in the future.

"This agreement is the first in an intended comprehensive framework of business co-operation between Reliance Jio Infocomm and Reliance Communications to provide for optimal utilisation of the existing and future infrastructure of both companies on reciprocal basis, including inter alia, inter-city fiber, intra-city fiber, towers and related assets," said a statement from RCoM.

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