Reliance Industries’ (RIL) telecom arm -- Reliance Jio Infocomm (Jio) has emerged as the highest bidder for mobile tower and optical fibre assets of Reliance Infratel by placing bids of around Rs 3,600 crore. The company will make the payment in 60 days.
The process of finalising the bids will take a minimum of one-two weeks as committee of creditors (CoC) will meet all the bidders and negotiate with them and then vote on it.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.