Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Reliance Jio Infocomm Limited (“Reliance Jio”) and ATC India, one of the leading independent tower companies in India, today signed a tower sharing agreement.
Under the agreement, Reliance Jio would utilize the telecom tower infrastructure of ATC India to launch its services across the country.
ATC has a portfolio of 11,000 towers in India.
Sanjay Mashruwala, Managing Director, Reliance Jio said, “We at Reliance Jio, want to provide innovative and empowering products, services and content to every Indian. To this end, we are committed to creating a cutting edge network for high speed 4G. Our relationship with ATC will accelerate the rollout of these services across India.
“There is considerable pent up demand for data and 4G has tremendous growth potential. We, at ATC India, are delighted to offer our countrywide network infrastructure to help Reliance Jio in its aggressive nationwide roll-out. This master contract recognizes ATC’s high level of customer service and operational efficiency. We believe this will strengthen our foothold as the leading independent tower company in India.” said ATC’s Chief Operating Officer, B Ramanand.