Mumbai, Sep 30 (PTI) Terming it as a "virtual consolidation" in the highly-competitive telecom space, Anil Ambani today said his group firm RCom is tying up 'trading and sharing' of spectrum with Mukesh Ambani-led Reliance Jio including for the much-awaited 4G services.
Addressing shareholders at the Annual General Meeting, Reliance Communications Chairman also said he was "grateful" to his elder brother for "unstinted support and guidance".
The two brothers have begun collaborating with each other in certain businesses over the past few years, after a long period of cut-throat rivalry following a much-publicised split of 2005 of the erstwhile Reliance empire founded by their father late Dhirubhai Ambani.
"This strategic cooperation and partnership between RJIO and RCom is a virtual consolidation in the telecom sector and I'm grateful to my elder brother Mukesh bhai for unstinted support and guidance," Anil Ambani said.
He added that both the companies are at "an advance stage of discussion" for finalising a nationwide trading and sharing arrangement, which will be followed up with reciprocal arrangements between Reliance Jio and Reliance Communications for letting customers roam on each others' networks.
"I believe this will be a true gamechanger for the sector and we will see benefits in coming years," he said, adding that they will be able to jointly offer "gold standard" services.
This will facilitate RCom customers to access RJio's 4G network on an "asset light" and "minimum capital expenditure" model, he said.
RJIO will also substantially benefit from access to RCom's entire portfolio of 800-850 MhZ spectrum in all circles to supplement it is holding, he added.
Anil Ambani added that their father Dhirubhai, whose death resulted in the two brothers splitting businesses and the younger one getting the telecom business, would have been very happy for such a partnership.