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…
Preparing to roll out services as soon as possible, Reliance Jio Infocomm Limited (“Reliance Jio”) has signed an agreement to use the towers of Bharti Infratel, India’s leading provider of telecom tower infrastructure.
Under the agreement that was signed by both the parties Yesterday (4th March, 2014), “Reliance Jio would utilize the telecom tower infrastructure of Bharti Infratel to launch its services across the country. As per the agreement, the pricing would be at ‘arm’s length,’ based on prevailing market rates.”
Mukesh Ambani-owned Reliance Jio, subsidiary of Reliance Industries Limited (RIL), is the first telecom operator to hold Pan India Unified License. The agreement will help the company (Reliance Jio) to roll out of its services soon across the country.
In a statement, Sanjay Mashruwala, Managing Director, Reliance Jio said that the agreement is in line with their earlier comprehensive telecom infrastructure sharing arrangement with Bharti Airtel Limited and aimed at avoiding duplication of infrastructure, wherever possible, and to preserve capital and the environment.
D S Rawat, CEO – Bharti Infratel Limited said, “It would also benefit our existing customers with lower rentals and energy charges as a result of additional sharing.”