The beleaguered Reliance Communications wireless business is finally taken over by Reliance Jio, the fourth largest player in the telecom sector. Saddled with total debt of Rs , crore as on March , RCom has heaved a sigh of relief with Jio coming to its rescue. In a statement last evening, the .Mukesh Ambani led Reliance Jio Infocomm Limited RJIL will acquire wireless infrastructure assets of Anil Ambani s Reliance Communications. Reliance Jio will acquire towers, optic fiber cable network or OFC, G Spectrum from RCom. Anil Ambani led Reliance Communications suffered .Anil Ambani s debt laden Reliance Communications Ltd RLCM.NS has signed an agreement to sell its wireless assets to Reliance Jio Infocomm Ltd [RELIB.UL], the telecoms arm of elder brother and billionaire Mukesh Ambani s oil conglomerate Reliance Industries Ltd RELI.NS , both the companies said .NEW DELHI Anil Ambani led Reliance Communications RCom on Thursday announced that it has signed definitive binding agreements with Reliance Jio Infocomm for sale of its wireless spectrum, tower, fiber and media convergence node MCN assets, the company said in a release to the stock .
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