Reliance Communications Sells Rs 2,000 Crore-Assets To Reliance Jio

Reliance Communications Ltd said on Thursday it completed the sale of its media convergence nodes (MCNs) and related infrastructure assets worth Rs 2,000 crore ($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 Rs 18,100 crore ($2.58 billion) to Reliance Jio and Canada's Brookfield, after the bankruptcy appeals court stopped insolvency proceedings against the cash-crunched company.

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