India's RCom sells $285 mln worth assets to Reliance Jio
Aug 23 (Reuters) - India's Reliance Communications Ltd said https://www.bseindia.com/xml-data/corpfiling/AttachLive/6d78ba56-0338-4e82-9a79-3f1a6eab545c.pdf on Thursday it completed the sale of its media convergence nodes (MCNs) and related infrastructure assets worth 20 billion rupees ($285.4 million) to Reliance Jio Infocomm.
The company said 248 MCNs covering about 5 million sq.ft. of area used for hosting the telecom infrastructure were transferred to Reliance Jio.
RCom said in May it expected to sell assets worth 181 billion rupees ($2.58 billion) to Reliance Jio and Canada's Brookfield, after the bankruptcy appeals court stopped insolvency proceedings against the cash-crunched company. ($1 = 70.0900 Indian rupees) (Reporting by Sharnya G in Bengaluru; Editing by Gopakumar Warrier)
