New Delhi: Reliance Communications and Reliance Jio announced on Monday that they have extended the terms of an agreement for sale of wireless assets of the Anil Ambani owned firm.
The move comes at a time when Reliance Communication’s spectrum sale deal has been hanging fire, pending requisite clearance from the telecom department.
“Reliance Jio lnfocomm Limited, a subsidiary of Reliance Industries Limited, extended the term of the definitive agreement for the acquisition of specified assets of Reliance Communications Limited and its affiliates to 28th June 2019,” Reliance Industries said in a regulatory filing on Monday.
The acquisition is subject to receipt of requisite approvals from governmental and regulatory authorities, consents from all lenders, release of all encumbrances on the said assets and other conditions, it said.
In a separate filing, Reliance Communications said the company and Reliance Jio have “extended the validity of the agreements signed on 28th December 2017 for sale of towers, fiber, MCNs and spectrum of RCOM and its affiliates to 28th June 2019”.
“The transactions are to be consummated subject to various approvals that are presently in progress,” Reliance Communications added.
Reliance Communications has been urging the telecom department to grant it the “long-awaited no-objection certificate” to comply with a Supreme Court order in “letter and spirit”. (PTI)
