RCom share prices surged after Reliance Jio came to the rescue
Billionaire Mukesh Ambani has come forward to the rescue of brother Anil Ambani’s debt-ridden Reliance communication by acquiring spectrum, tower and wireless assets. The specific amount of the deal is not disclosed by either party. RCom is under a huge debt of 45,000 cr and they are going to pay off their debts with the money. Jio will acquire all the assets without any accountabilities attached to them.