The news follows chairman and managing director of Reliance Industries Limited (RIL) successfully raising $20 billion through shares of platforms, product, and services. Now the Group aims to also monetise the fibre-assets held by Jio Digital Fibre.
According to LiveMint, one of the two anonymous sources close to the matter said: “Fibre network business monetisation falls exactly in line with RIL’s original plan to make Jio become an asset-light digital services company and save significantly on costs as the group is gearing up to offer affordable 5G services. It has an immense revenue generation potential”.
“Qatar Investment may invest $1.5-2 billion in RIL’s fibre business."
Additionally, sources claim that Citigroup Global Markets, Moelis and Co. and ICICI Securities Ltd have been instructed by Reliance as investment bankers for the proposed deal with QIA.
In terms of assets, Jio Digital Fibre has a 700,000km network of fibre-optic cables in India with plans to expand it to 1.1 million km.
In related news, the country’s regulator, the Telecoms Regulatory Authority of India (Trai) reported that Reliance Jio is adding customers in India at the rate of 4.6 million a month, while both of the other major operators are losing 7.5 million a month between them.
