Reliance Infratel goes to Jio for Rs 3,720 crore for asset acquisition

Reliance Projects and Property Management Services — a subsidiary of telecom major Reliance Jio — has deposited Rs 3,720 crore in an SBI escrow account to acquire mobile tower and fibre assets of Reliance Infratel.

The National Company Law Tribunal (NCLT) gave an approval to Jio for the acquisition of Reliance Infratel (RITL) in November.