Reliance Jio Board Approves Spin-Off of Fibre, Towers Businesses
Reliance Jio is set to hive off its fibre and tower business units HIGHLIGHTS Reliance Jio acquired towers from RCom last year TRAI reported the operator has a monthly growth rate of 5.44 percent The new move will widen its market presence Reliance Jio Infocomm on Tuesday announced that its board has cleared spinning off its fibre and tower assets into two separate units. With the new move, the telco will be able to widen its market presence and start monetising its new businesses. The decision is subject to all requisite statutory and regulatory approvals. In December last year, Reliance Jio announced the acquisition of mobile towers, spectrum, and other wireless infrastructure assets from Reliance Communications (RCom). The operator is presently the fastest-growing telco in the country with a monthly growth rate of 5.44 percent, with a total of 13.02 million customers, as per a recent report by Telecom Regulatory Authority of India (TRAI). "The Board of ...

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