New Delhi: Anil Ambani-controlled Reliance Communications (RCom) today signed a master services agreement with Reliance Jio Infocomm for sharing its intra-city optic fiber infrastructure.
As per the deal, Reliance Jio Infocomm, owned by elder brother Mukesh Ambani, will utilise RCom's nationwide intra-city fiber network for accelerated roll-out of its state-of-the-art 4G services across the country.
The agreement is based on arm's length pricing at prevailing market prices, the company said in a statement.
This is the third agreement signed between the companies owned by the Ambani brothers.
In April last year, billionaire Ambani brothers struck a Rs 1,200-crore deal under which Mukesh will use his younger sibling Anil's optic fibre network for launch of his telecomventure.
In August, the two firms signed a nationwide telecom towers infrastructure sharing agreement.
RCom's intra-city optic fiber network extends to nearly 500,000 fiber pair kilometres, across the top more than 300 cities and towns in India, it said.
(Disclosure: The Reliance Group has funded the promoter of Network18, which publishes Firstbiz)
Updated Date: Apr 07, 2014 13:21 PM