Global investors in talks with Mukesh Ambani’s RIL to invest in Jio’s towers, fibre

Global investors are in talks with Reliance Industries Ltd to invest in two infrastructure investment trusts set up to own Reliance Jio’s tower and fibre assets, a business daily reported on Tuesday, citing people aware of the matter. Reliance, once dependent on its industrial businesses, reshaped the Indian telecoms industry when it launched its Jio telecoms unit in 2016, taking on rivals such as Bharti Airtel and Vodafone Idea with its cut-throat pricing.

Canadian pension funds CPPIB, Ontario Municipal Employees’ Retirement System (OMERS), British Columbia Pension Corporation (BCPC), sovereign wealth fund Abu Dhabi Investment Authority (ADIA), investment firms Mubadala and Singapore’s GIC, and Germany’s Allianz SE are among the potential investors, the newspaper reported.