Airtel and Jio bid on Reliance Communications' assets. Govt says it might intervene if telcos' tariff hike is "exorbiant".
Do Your Bidding: Telecom rivals Reliance Jio and Bharti Airtel are all set to compete for Reliance Communications' assets when bids will be opened on Monday, which is also the last day for submitting bids.
While Airtel and Jio are expected to bid mainly for RCom's 850 MHz spectrum, I Squared Capital is likely to vie for the telco's data centres and optic fibre assets. RCom's 43,000 towers, housed under Reliance Infratel, are also up for sale. UV Asset Reconstruction Company may also bid for RCom’s assets. ET Telecom News
Meanwhile: Vodafone Idea, Bharti Airtel and Reliance Jio had earlier announced that tariff hikes will be increased from December 1. Now, the Department of Telecommunications has set up an internal committee to examine the impact of these hikes and has said that the government may intervene if the rise is ‘exorbitant’. BS
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