Reliance Industries has inked 12 billion rupees deal with RComm to use its fibre optic network to launch its 4G services.
Mumbai: The Mukesh Ambani owned Reliance Industries has inked 12 billion rupees deal with Anil Ambani-led Reliance Communications. According to the deal Reliance Industries will use RComm’s fibre optic network to launch its 4G services.
The pact is the first business tie-up between estranged Ambani brothers. Reliance Industries is the only company to have 4G airwaves for all of India's 22 service areas.
The fibre deal may help the debt-laden Reliance Communications. After the news of deal shares of Reliance Communications rose as much as 17 percent. And the other listed group companies of Anil Ambani also had a rise in shares.