RCom in advanced trading talks with Jio, says Anil Ambani

RCom chairman Anil Ambani today informed the shareholders that the company is in advanced talks to share and trade spectrum with Reliance Jio Infocomm in the 800-850MHz band, apart form selling its stake in its tower unit.

While addressing the shareholders at RCom’s Annual General Meeting, Ambani said that the deal with Jio will include reciprocal agreements for roaming by respective customers on each other's networks.

The pact, owned by Mukesh Ambani, will allow RCom customers to access Reliance Jio’s 4G networks on an asset-light and minimal capex model, while allowing Jio's customers to have fall back on to RCom's extensive 2G and 3G networks.

RCom, India’s one of the largest telecom operator, is the only Indian operator to hold 5 MHz or more of the 800 - 850MHz band spectrum across the country, reported The Economic Times.

Ambani further said that RCom might also sign a deal to sell its stake in its tower unit, Reliance Infratel, in the next couple of months. The deal will help the telco to substantially reduce its overall debt which stands at over Rs38,000 crore as at June-end.