CCI okays divestment of Reliance Jio’s tower assets to Brookfield

NEW DELHI : he Competition Commission of India (CCI) said on Monday that it has approved the divestment of Reliance Jio Infocomm Ltd’s telecom tower assets to Canada’s Brookfield Infrastructure Partners Lp and other investors.

The anti-trust regulator’s approval comes more than a month after Reliance Industries Ltd, the parent company of India’s only profitable telecom operator Reliance Jio, said it had signed a binding pact with asset management firm Brookfield for an investment of ₹25,215 crore in its tower arm.

The deal is in line with Reliance’s overall objective to reduce debt in its high-capex telecom business and increase focus on building digital services.