Sovereign fund Qatar investment authority is starting to advanced talks with Reliance Industries Ltd to invest around 1.5 bn in an infrastructure investment trust that holds the Company’s fibre-optic assets, sources said.
After-sales more than 20 bn through the stake in digital assets unit, Mukesh Ambani’s led Reliance is now keen to monetize fibre assets held by Jio digital fibre Pvt.ltd.
Fibre network business was under pipeline to direct monetized in Reliance Industry, nonetheless, the voyage changed to make Jio become an assets light digital services company. Jio digital gearing up to offer significant on cost. It has immense maturity potential to generate revenue.
Reliance involved Citigroup Global Markets, moelis and co, and ICICI Securities Ltd to Reliance as investment bankers for the proposed deal with Qatar Investment Authority further.
Earlier last year, Canada’s Brookfield Asset Management invested worth 25,215 crores in an InvIT holding telecom Tower Assets.
Jio digital fibre has a 700,000 km network of fibre– optic cables in India and plans to enhance it to 1.1 million km.
By JP Sahu
Image Source: Google