RJio emerges top bidder for RCom tower, fibre assets

Reliance Jio Infocomm (RJio) has emerged as the highest bidder for Reliance Communications’ (RCom) tower and fibre assets, with the company controlled by Asia’s richest person Mukesh Ambani placing a ₹3,600-crore bid. Bharti Airtel’s bid for the same assets, housed under RCom subsidiary Reliance Infratel, is at ₹1,800 crore, according to sources.

RJio, which did not bid for the entire assets put out for auction, has committed to making the payments within 60 days, banking sources close to the development told BusinessLine, adding that the evaluation process by SBI Caps is currently on. Bids submitted by other bidders could not be ascertained.