December 28, 2017 / 12:47 PM / in 2 months

BRIEF-Reliance Communications ‍Signs Deal With Reliance Jio Infocomm

Dec 28 (Reuters) - Reliance Communications Ltd:

* ‍SIGNS BINDING DEFINITIVE AGREEMENTS WITH RELIANCE JIO INFOCOMM LIMITED FOR SALE OF VALUABLE WIRELESS SPECTRUM, TOWERS, FIBER AND MCNS​

* EXPECTS TRANSACTIONS TO CLOSE IN A PHASED MANNER BETWEEN JANUARY AND MARCH 2018

* DEAL CONSIDERATION COMPRISES OF CASH PAYMENT & INCLUDES TRANSFER OF DEFERRED SPECTRUM INSTALMENTS PAYABLE TO DEPARTMENT OF TELECOMMUNICATION‍​

* WILL UTILISE PROCEEDS OF MONETISATION OF CASH DEAL SOLELY FOR PRE-PAYMENT OF DEBT TO ITS LENDERS Source text - bit.ly/2pOZZ8j Further company coverage:

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