16 April 2013


After their much-talked about split in 2005, the Ambani brothers have come together to sign a Rs 1,200 crore agreement through which Mukesh Ambani-owned Reliance Jio Infocomm (RJI) will share Anil Ambani-owned Reliance Communications' (RCom ) optic fibre cable (OFC) network.According to the agreement, Reliance Jio will utilise multiple fibre pairs across RCom's 120,000 km of inter-city fibre optic network, while RCom will get Rs 1,200 crore as indefeasible right to use (IRU) fees....
Reliance Industries, controlled by Mukesh Ambani, India's richest person, will pay 12 billion rupees to younger brother Anil Ambani's Reliance Communications for use of its fibre optic network.

The companies said  they could co-operate further in future and the announcement bolstered their share prices.


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