Rcom ringing a good tune

Rcom is doing well, post the AGM which was held yesterday. Anil Ambani announced during the AGM that his company was in advanced with his elder brother, Mukesh Ambani’s Reliance Jio Infocomm for sharing and trading spectrum in the 800-850 MHz band. Ambani said that this arrangement will give the customers of RCom access to Reliance Jio’s world class 4G/LTE networks.

Ambani also announced that he plans to sell stake in its tower unit over the next few months. He said Rcom also has plans to merge Sistema Shyam's business with itself  and all these moves would held the company bring down its debt, which is currently at around Rs.40,000 crore.

Its tower unit, Infratel is valued at Rs.20,000 to 40,000 crore and it expected to close the deal by end of this month. Rcom is planning on a complete exit from this tower business.