Reliance sells Jio towers to Brookfield

Reliance sells Jio towers to Brookfield

Brookfield Infrastructure Partners is acquiring the tower assets of Reliance Jio from its parent firm Reliance Industries in a deal worth INR252 billion ($3.5 billion).

The firms have signed a binding agreement that will see Brookfield, together with its institutional investors, obtain 100% equity in Reliance’s tower unit, Reliance Jio lnfratel. The unit currently has around 130,000 towers and is aiming to add a further 45,000 sites. Reliance Jio holds a 30-year agreement as the anchor tenant for the towers.

Reliance chairman and MD Mukesh Ambani said: “are confident of Brookfield’s abilities to manage this large portfolio of high-quality infrastructure assets and further enhancing value creation opportunities. This transaction demonstrates the belief of global investors in the potential of India’s digital opportunity.”

The deal requires a green light from the country’s regulator, which the companies expect to be granted soon.

MORE ARTICLES YOU MAY BE INTERESTED IN...


Sign-up to our weekly newsletter

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE weekly email newsletters for the latest telecom info in developing and emerging markets globally.
Sending occasional e-mail from 3rd parties about industry white papers, online and live events relevant to subscribers helps us fund this website and free weekly newsletter. We never sell your personal data. Click here to view our privacy policy.