RCom and RJio Have Virtually Merged [ Current News (Concise) ]
Reliance Communications (RCom) and Reliance Jio Infocomm (RJio) were virtually merged, to reduce the debt burden by upto 75 % in the next one year. Under the merger, RCom will share spectrum, network, and towers with Mukesh Ambani’s RJio.
- Now Anil Ambani and Mukesh Ambani both will be Chairman of Reliance Industries.
- Previously RCom and RJio signed spectrum trading and spectrum sharing agreement- sharing in 17 circles and trading in 10 circles.
- Recently RCom merged its business with Aircel to build a new brand –a top operator in 12 circles of India.
- Mukesh Ambani and Anil Ambani divided Reliance Group in 2005.
- Oil and gas, petrochemicals, refining and manufacturing went under Mukesh Ambani while electricity, telecom, and financial services came under Anil Ambani.
- RCom set to reduce debt of ₹40,000 crore by upto 75% by next year.
- Will announce sale of its tower portfolio soon.
- They already have 2G, 3G and 4G spectrums so no need to spend in the upcoming auction.
- RCom has deposited ₹230 crore with the Department of Telecommunications for the forthcoming auction.
Reliance Jio Infocomm
- Reliance Jio is 4G (4th Generation) telecom service provider using LTE (Long Term Evolution) Technology.
- It was founded in 2007 by Mukesh Ambani on the 83rd birth anniversary of Dhirubhai Ambani, founder of the Reliance Industries Limited (RIL) in Navy Mumbai, Maharashtra.
- The initial phase of 4G service was launched for 85000 employees and their families on April 2016.
- Jio offers 4g services called broadband, along with affordable smart phones with rich content and applications.
- The main aim of Jio is to provide unique combination of high speed data up to 1 gigabyte per second (Gbps), telecom, media, digital commerce and payment services.
About Reliance Communications
- An Indian Internet access and telecommunications company.
- Headquartered in Navi Mumbai, India.
- Founded in 2002 by Anil Ambani.
- Provides GSM (Voice, 2G, 3G, 4G) mobile services, fixed line broadband, and voice services, and DTH (direct to home) services.
- Is the fourth largest telecom operator in India with 98.70 million subscribers as of June 2016.
- Published on: September 28, 2016