Nascent Indian mobile player Reliance Jio has signed its third tower sharing agreement in less than a year, this time with local independent towerco Viom Networks.
The pact will allow Jio to use 42,000 telecoms masts belonging to Viom and therefore…
Nascent Indian mobile player Reliance Jio has signed its third tower sharing agreement in less than a year, this time with local independent towerco Viom Networks.
The pact will allow Jio to use 42,000 telecoms masts belonging to Viom and therefore speed up the rollout of next-generation voice and data services, according to a statement cited in multiple reports.
The companies were not immediately available for comment.
Just a few days ago, Reliance Jio, a unit of Mukesh Ambani-controlled Reliance Industries, signed a similar agreement with another tower company, Bharti Infratel.
In June last year, Jio also agreed a fibre and tower sharing deal with Reliance Communications (RCom), marking the end of a feud between Mukesh and his brother Anil, who owns the mobile operator.
During the 2014 frequency auction, Reliance Jio bid aggressively, pushing the prices up as it is looking to become a disruptive force in India’s crowded mobile market. The company paid US$1.7bn to secure 1,800 MHz spectrum across 14 of the 22 circles. It already owns spectrum in the 2,300 MHz band across India and plans to launch telecoms and TV services by the end of the year.
Separately, Viom has hired Credit Suisse and Citigroup to explore capital raising opportunities. This could include a stake sale to another towerco or private equity firm, or potentially a listing, local reports suggest.
