Reliance Communications, controlled by Anil Ambani, will partner with Reliance Industries (controlled by Anil Ambani’s brother Mukesh Ambani) telecom subsidiary to launch fourth-generation mobile phone services by year-end, the company’s chairman said on Wednesday.
RCom is the latest operator to enter the race to provide 4G services, joining leading carriers Bharti Airtel and unlisted Vodafone India, which are bracing for heated competition from Reliance Jio Infocomm Ltd, the telecom unit of conglomerate Reliance Industries, as it prepares to offer 4G services starting December.
At the telecom company’s annual general meeting, chairman Anil Ambani said that the country’s fourth-biggest mobile phone carrier by subscribers, RCom will enter into a “strategic partnership” with Reliance Jio, allowing for trading and sharing of 4G airwaves.
RCom was also at an “advanced stage of merger talks” with the India telecom operations of Russian billionaire Vladimir Yevtushenkov’s Sistema conglomerate, Anil Ambani added.
According to Reuters, RCom shares closed 6.26 per cent higher at Rs 67.90 on BSE.