MUMBAI: Reliance Industries on Tuesday joined hands with arch rival Bharti Airtel
to use the latter's submarine cables for its 4G launch, a deal which
surprised industry as both its promoters—Mukesh Ambani and Sunil
Mittal-—have been so far seen as competitors.
Earlier this month, Mukesh Ambani buried years of rivalry with younger brother Anil after inking a similar deal to share Reliance Communications' nationwide optic fiber network. Clearly, the senior Ambani, who turned 56 on April 19, is out to make new friends in his bid to launch bundled voice & hi-speed data on 4G network across the country later this year.
A joint statement by RIL and Bharti Airtel said: "...( We) have signed an Indefeasible Right to Use (IRU) Agreement under which Bharti will provide Reliance Jio data capacity on its i2i submarine cable." The statement added that Bharti and Reliance Jio will continue to "build on this strategic framework and consider other mutual areas of cooperation and development to leverage their respective assets towards offering their customers a much richer experience ." The companies, however , did not disclose the deal's value.
Avinash kumar
PGDM 2nd sem.
Earlier this month, Mukesh Ambani buried years of rivalry with younger brother Anil after inking a similar deal to share Reliance Communications' nationwide optic fiber network. Clearly, the senior Ambani, who turned 56 on April 19, is out to make new friends in his bid to launch bundled voice & hi-speed data on 4G network across the country later this year.
A joint statement by RIL and Bharti Airtel said: "...( We) have signed an Indefeasible Right to Use (IRU) Agreement under which Bharti will provide Reliance Jio data capacity on its i2i submarine cable." The statement added that Bharti and Reliance Jio will continue to "build on this strategic framework and consider other mutual areas of cooperation and development to leverage their respective assets towards offering their customers a much richer experience ." The companies, however , did not disclose the deal's value.
Avinash kumar
PGDM 2nd sem.
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