Jio, UVARC emerge top bidders for RCom assets

NEW DELHI: Reliance CommunicationsNSE 6.25 %’ (RCom) assets have received bids of around Rs 25,000 crore with Reliance Jio and UV Asset Reconstruction Company (UVARC) emerging as the top bidders in their respective segments, according to banking sources.

“Jio and UVARC have emerged as the highest bidders at Rs 25,000 crore for RCom assets at committee of creditors (COC) meeting held on January 13, 2020,” a source closely involved in the development told PTI.

Reliance Jio had placed Rs 4,700-crore bids for mobile tower and fibre assets of Reliance Infratel Ltd (RITL), a subsidiary of RCom.

UVARC has placed bids of around Rs 16,000 crore for spectrum, real estate assets as well as the enterprise and data centre businesses held in RCom and Reliance Telecom Ltd (RTL).