TIL Desk/Business/Mumbai-Anil Ambani, chairman of the Reliance group, said on Tuesday that he was working with his brother, Mukesh Ambani, to realise their father’s dream and Reliance Communications’ association with Mukesh-led Reliance Jio has accomplished a virtual merger.
He was addressing shareholders at the annual general meetings of RCom, Reliance Infrastructure Reliance Power, Reliance Communications and Reliance Capital. Anil Ambani said the merger was already in the works given the two entities are sharing spectrum, network, fibre and towers.
He also said the company already has the spectrum it needs for 2G, 3G and 4G, plus spectrum trading and sharing with Jio. This will be beefed up further once the merger is complete. “Spectrum sharing with Jio has resulted in RCom’s expenditure coming down (substantially), while the competition will have to spend heavily to survive,” he said. Ambani said the company has garnered one million 4G customers using more than one GB data per month, within 90 days of the 4G launch.
