BCI, Brookfield buy 175,000 communication towers from Reliance in India

Nieuws Mobiel India 2 SEP 2020
BCI, Brookfield buy 175,000 communication towers from Reliance in India

British Columbia Investment (BCI), alongside Brookfield Infrastructure Partners, has acquired a 100 percent stake in a telecom tower company in India from Reliance Industrial Investments, a subsidiary of Reliance Industries. The total equity commitment for the transaction is USD 3.4 billion. The investment comprises a portfolio of around 135,000 communication towers which forms Reliance Jio Infocomm’s telecommunication network.

The towers were recently constructed and strategically located for cellular network coverage across India. More towers are planned, increasing the total number of towers in the transaction perimeter to 175,000. Jio is the anchor tenant of the tower portfolio under a 30-year Master Services Agreement, which will provide the tower company with a long-term source of revenue. 

Categories:

Mobiel

Companies:

Reliance Industries,  Reliance Jio

Countries:

India

Tags:

Network equipment, Wholesale, M&A buyouts & divestments

Related Articles

INDIA 15 JUL 2021

Digital Realty, Brookfield Infrastructure set up data centre JV in India

Digital Realty and Brookfield Infrastructure have agreed to establish a 50/50 joint venture focused on the development, ownership and operation of data centres in India. The joint venture will operate under the brand name Bam Digital Realty.

INDIA 27 MAY 2020

Bharti Telecom sells 2.75% stake in Airtel for INR 84 bln, to fully repay debt

Bharti Telecom, the promoter company of Indian operator Bharti Airtel, has sold a 2.75 percent stake in Bharti Airtel to institutional investors through an accelerated book building process in the secondary market. The allocation was done to over 50 accounts, with the top 10 getting two-thirds of the overall allocation. The total sale proceeds of over INR 84.33 billion (approximately USD 1.15 billion) was over-subscribed multiple times with a mix of all categories of investors, long only and hedge fund inve

INDIA 27 MAR 2020

Facebook mulls acquisition of Reliance Jio stake – report

Facebook seeks to acquire a multibillion-dollar stake in Reliance Jio. The Indian operator's mobile internet service has attracted nearly 370 million Indian customers in just three years, The Financial Times reports, citing two unnamed sources with knowledge of the discussions. According to one of these sources, Facebook nearly signed a preliminary deal for a 10 percent share in Jio, but the deal timetable was negatively impacted by the global lockdowns caused by the coronavirus outbreak.

INDIA 29 FEB 2020

Indus - lnfratel merger deadline extended to 24 April

The merger of Indian operator Indus Towers with Bharti lnfratel has received FDI clearance from regulators. Vodafone Idea owns an 11.15 percent equity stake in Indus. To complete the remaining conditions precedent including the pre-closing adjustments, the parties have agreed to further extend the deadline for closing the deal, from 24 February to 24 April.

INDIA 16 DEC 2019

Reliance Jio confirms deal to sell 130,000 towers to Brookfield for USD 3.7 bln

India's Reliance Industries has confirmed a deal to sell the towers network of its mobile unit Jio to Brookfield Infrastructure Partners. After a preliminary agreement in June, the companies announced a definitive contract for the acquisition of approximately 130,000 communication towers by Brookfield for USD 3.7 billion (INR 252.15 billion).

INDIA 26 NOV 2019

Airtel, Jio to acquire RCom's telecom assets - report

Indian operators Bharti Airtel, Reliance Jio, Varde Capital and UV Asset Reconstruction Company have submitted bids to acquire telecom assets of bankrupt Reliance Communications (RCom), The Economic Times reports, citing unnamed people familiar with the matter said. The four interested buyers placed 11 bids for the three units, namely RCom, Reliance Telecom and Reliance Infratel. RCom's assets includes spectrum, data centres, fibre optic networks and towers.

INDIA 28 OCT 2019

Reliance separates Jio in new subsidiary, takes over debt

Reliance Industries announced plans to separate its telecom business Reliance Jio Infocomm into a new company to develop digital services. The creation of the new subsidiary will also lead to a restructuring of debt generated from growing Jio. 

INDIA 22 JUL 2019

Brookfield consortium to acquire Reliance tower business for INR 252 bln

Reliance Industrial Investments and Holdings Limited (RIIHL), a subsidiary of India's Reliance Industries, has signed an agreement with BIF IV Jarvis India, an affiliate of Brookfield Asset Management for an investment by Brookfield (along with co-investors) of INR 252.15 billion in the units proposed to be issued by the Tower Infrastructure Trust. Brookfield's investment in the towers infrastructure used by mobile operator Reliance Jio remains subject to the receipt of government and regulatory approvals.

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.