Shares of Reliance Communications closed up 3.41 per cent on Monday, after the company said it signed an intra-city optical fibre infrastructure agreement with Reliance Jio Infocomm Ltd.
This was the third agreement between the two companies. The deal was announced during the market hours on Monday.
Under the agreement, RJIL will utilise RCom’s nationwide intra-city fibre network for accelerated rollout of its 4G services across the country. The agreement is based on arm’s length pricing at prevailing market prices, RCom said, without divulging the financial terms.
In April 2013, the companies signed an inter-city optical fibre sharing agreement, followed by a telecom towers infrastructure agreement in August 2013.
RCom shares closed up 3.41 per cent at Rs 133.55 apiece on BSE. However, shares in Reliance Industries, RJIL’s parent company, ended 0.02 per cent lower at Rs 944.05, on a weak BSE that ended lower by 0.07 per cent lower on Monday.