On the head of Reliance Communications (RCOM) of India, there is a huge burden on debt. The company led by Anil Ambani wants to reduce the debt by selling assets. As part of this, Rakesh has completed the sale of his optical fiber connections and related installations in the Rs. 3000 crores to Anil's elder brother Mukesh Ambani, Reliance Jio Infocomm Limited. News Economic Times and Telecom Asia.In a statement submitted to the regulatory body yesterday, Arak said that they successfully completed the transaction of fiber optic assets. 1 million 78 thousand kilometer fiber stand has been handed over to Reliance JIO.Last week, the media convergence node (MCN) and related installations have been completed for Reliance Geor. The first step of selling Wireless Resources to JIO is being considered. In this case Reliance JIO has counted Rs 2 billion crore.In December last year, the deal reached Reliance Jio with the promise of selling wireless spectrum, towers, fiber and MCN resources. According to the agreement, Reliance Jio will sell assets worth Rs 25,000 crore. In fact, the Rs 46 billion crore loan has become a big burden to RCOM.Ericsson has received a loan of Rs 1,000 crore for Swedish telecom equipment maker Ericsson. Despite repeated requests, Ericsson has gone to the court without paying any such payment. According to the National Company Law Tribunal (NCLT) and the Supreme Court of India, Ericson is forced to pay the dues. According to the court order, Ericsson will have to pay Rs. 550 crores by September 30 this year.
Reliance JIO, the new operator of the telecom sector in India. The country has not yet completed two years of JIO entry into this sector. But the company has already grown a huge number of customers. Since the beginning of the program, special offers for voice calls and data services by the customer in special offers. This has resulted in the increase in JIO's customers in a short span of time. Old operators are also offering free voice calls and data services with JIO. Due to such a war, the annual revenue of operators decreased. According to analysts, the price war that started in Reliance Telecom, India's Telecom sector, has been increasingly visible. There is no possibility of mitigation in this fight. It looks like it will continue in the next quarter. This will have negative impact on cellular operators' aggregated annual revenue (AGR). According to them, this year, annual revenue of cellphone operators in India's telecommunications sector can decline by 6 to 8 percent. The idea is, Reliance Jio will reach a more robust position in India's telecommunications sector by purchasing RCOM's resources. As a result, the country's telecommunications sector is expected to become more competitive.Quoting the relevant sources, the Financial Times has recently said that it has been negotiating with the I Scoward Capital, the TPG, Blackstone and Ward to sell international submarine cable networks, fixed-line telecommunications networks and data centers. Both sides agreed to keep the remaining assets worth $ 110 million.India's telecommunications sector was once the second largest operator in the country. But the market is unable to compete in competition and the company has been forced to leave the telecom business due to continuous losses.