R-Com asset sale

Reliance Jio Infocomm (Jio) and UV Asset Reconstruction Company (UVARC) have emerged as the top bidders for assets of Reliance Communications (R-Com).

While the duo have pipped other interested parties such as Airtel and Varde Partners, their combined bid value stood at close to Rs 25,000 crore. Their bids were taken up by the committee of creditors (CoC) of R-Com on Monday.

Among the two, while Jio placed bids worth Rs 4,700-crore for tower and fibre assets of Reliance Infratel (RITL), an arm of R-Com, UVARC placed bids of over Rs 16,000 crore for spectrum, real estate assets, apart from the enterprise and data centre businesses held in R-Com and Reliance Telecom Ltd (RTL).