Debt-laden Reliance Communications Ltd (RCom) has extended the validity of its earlier signed deal with Reliance Jio Infocomm (RJio) to June 28, 2019. “The transactions are to be consummated subject to various approvals that are presently in progress,” RCom said in a regulatory filing.

RJio, a wholly-owned subsidiary of Reliance Industries (RIL) also confirmed the same in a separate statement to the BSE.

The deal between RCom and RJio – signed on December 28, 2017 - is awaiting regulatory approvals, including a spectrum trading deal from the Department of Telecommunications (DoT). Billionaire Mukesh Ambani-led RJio announced plans to acquire the wireless assets of RCom, controlled by his younger sibling, Anil.

Earlier on December 18 this year, RJio had asked DoT to approve the spectrum trading deal only after ensuring RCom paid up all its liabilities as per the licence conditions.

Later on December 20, RCom said that it was “committed” to settling all dues and disputes, even as it awaits DoT’s consent for spectrum sales. The Anil Ambani-led company said it had complied with all spectrum trading guidelines.

RJio, which had emerged as the successful bidder in a two-stage bidding process, signed an agreement to RCom’s more than 43,000 towers, 1.78-lakh route km of optical fibre cable network, 122.4 MHz of spectrum in the 800, 900, 1800 and 2100 MHz bands and 248 Media Convergence Nodes.

These assets were expected to contribute significantly to the large-scale roll-out of RJio’s wireless, fibre-to-home and enterprise services.

On Monday, RIL shares closed down 0.42 per cent at Rs 1,121.05, while that of RCom ended down at 2.04 per cent.

rajesh.kurup@thehindu.co.in

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