The telecommunication unit of Reliance Industries(RELI.NS) has signed a deal worth 12 billion rupees to use Reliance Communications Ltd's(RLCM.NS) fibre optic network to roll out its 4G services, in what is the first business tie-up between two estranged billionaire brothers.
Reliance Industries, controlled by India's richest man, Mukesh Ambani, is the only company to have 4G airwaves for all of India's 22 service areas, but has yet to launch services.
The fibre deal with Reliance Industries is positive for debt-laden Reliance Communications, which is controlled by Mukesh's estranged brother Anil, as it raises hopes for a bigger deal between ...... to know more Reuters
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