Subsidiary of Mukesh Ambani's Reliance Jio, acquires assets of Anil Ambani's Reliance Infratel
Shortpedia
Content Team
Image Credit: FPJ
According to a regulatory filing, Mukesh Ambani's Reliance Industries Limited has acquired Anil Ambani's Reliance Infratel Limited under the bankruptcy code, through its subsidiary Reliance Projects and Property Management Services. This deal approved by NCLT, gives full control of Reliance Infratel's assets to telecom giant Jio, which deposited Rs 3,720 crore in an escrow account to complete the acquisition.
