Jio may bag Reliance Infra mobile tower, optical fibre

Reliance Jio has emerged as the highest bidder for mobile tower and optical fibre assets of Reliance Infratel by placing bids of around Rs 3,600 crore, according to banking sources privy to the development.

Bharti Airtel has placed a bid of around Rs 1,800 crore for the same, according to the sources.

“Reliance Infratel’s tower and fibre is likely to go to Reliance Jio as its bid of Rs 3,600 crore is the highest and the company has committed to make the payment in 60 days. Bharti Airtel has placed a bid of Rs 1,800 crore for the same,” a banking source said.

Another source privy to the development said the process of finalising the bids will take a minimum of one-two weeks as committee of creditors (CoC) will meet all the bidders and negotiate with them and then vote on it.