MUMBAI Reliance Communications Ltd (RLCM.NS) has agreed to trade airwaves in nine service areas with the upcoming 4G telecommunications venture of Reliance Industries Ltd (RELI.NS), the companies said on Monday.
Reliance Communications, controlled by billionaire Anil Ambani, will also share its airwaves in the 800 megahertz band with Reliance Jio Infocomm Ltd in 17 service areas, the companies said in separate statements, without disclosing the financial details.
Reliance Industries, controlled by Anil's elder brother and India's richest man Mukesh Ambani, is preparing for the commercial launch of the nation's biggest 4G broadband network.
(Reporting by Devidutta Tripathy; Editing by Anand Basu)
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Updated Date: Jan 19, 2016 01:45 AM