NCLT clears Jio’s acquisition of Reliance Infratel

The National Company Law Tribunal (NCLT) in Mumbai Monday approved the Reliance Infratel Ltd (RITL) acquisition by Reliance Property and Projects Management Services Limited, the arm of Reliance Jio that looks into the telco’s tower business.

Jio is to deposit Rs 3,500 crore in the SBI escrow account to complete the acquisition of RCOM’s tower and fiber assets, people familiar with the matter said.