RCom completes sale of assets worth Rs 2,000 cr to Reliance Jio

Reliance Communications Limited (RCOM) said it has completed the sale of assets worth around Rs 2,000 cr to Reliance Jio Infocomm under the broader asset sale agreement.

The Anil Ambani company did not clarify how much money was raised via the sale.

RCom sold what it calls ‘media convergence nodes’ or MCNs and related infrastructure assets.

“With the successful completion of the MCN monetization transaction, 248 MCNs covering around 5 Million sq. ft. of area, used for hosting the telecom infrastructure, stand transferred to RJIO,” the Anil Ambani company said.

The MCNs are likely to be data-cum-network hubs where both IT as well as network components are housed.

RCom is in the process of selling its mobile and consumer facing assets, such as towers, part of its fiber network, spectrum and some real estate, to raise about Rs 25,000 cr to pay back its creditors.

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