Reliance Communication (RCom) and Reliance Jio have extended the validity of the agreement signed on December 28, 2017, for the sale of towers, fibers, MCNs, and spectrum of RCom and its affiliates to June 28, 2019, the company said in a press note to the exchanges on Monday.
"The transactions are to be consummated subject to various approvals that are presently in progress," the company said in a press note to the exchanges on Monday.
Earlier in this month, the Department of Telecommunication (DoT) had rejected the firm’s spectrum sale deal with Reliance Jio Infocomm. The telecom department, on Tuesday, told RCom and Reliance Jio that it cannot approve their deal to trade airwaves as it does not conform to its guidelines.
Reliance Communications Ltd's share price is currently trading at Rs14.68, down by Rs0.01 or 0.07%, from its previous close of Rs14.69 on the BSE.
"The transactions are to be consummated subject to various approvals that are presently in progress," the company said in a press note to the exchanges on Monday.
Earlier in this month, the Department of Telecommunication (DoT) had rejected the firm’s spectrum sale deal with Reliance Jio Infocomm. The telecom department, on Tuesday, told RCom and Reliance Jio that it cannot approve their deal to trade airwaves as it does not conform to its guidelines.
Reliance Communications Ltd's share price is currently trading at Rs14.68, down by Rs0.01 or 0.07%, from its previous close of Rs14.69 on the BSE.
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