RCom, Jio terminate asset sale agreement by mutual consent

Reliance CommunicationsNSE 10.00 % (RCom) has terminated its asset sale plan with Reliance Jio Infocomm (Jio), blaming lack of consent from its lenders and permissions from telecom department for the deal fall out among other reasons.

“The agreements dated 28th December 2017 and 11th August 2018 entered into between RCom, RTL, RITL (RCOM Group) and RJIL respectively for sale of certain specified telecom assets have been terminated today by mutual agreement,” said the telco in a regulatory filing on Monday.

RelianceNSE 0.14 % Telecom (RTL) and Reliance Infratel (RITL) are units of Rcom and RJIL is Reliance Jio Infocomm Limited.