Reliance Communications (RCom) will transfer its optic fibres business to its subsidiary Reliance Infratel, the telecom infrastructure assets subsidiary of RCom.
According to a company release, the board has approved a scheme for consolidation of the towers and optic fibres company with Reliance Infratel.
The transfer of Reliance Infratel will take place with no additional equity shares to be issued and no change proposed in the capital structure of the company. The transfer of optic fibre assets from RCom to Reliance Infratel will be at a cout approved scheme of arrangement at fair value.