Reliance Communications Ltd, said on Thursday it completed the sale of its media convergence nodes (MCNs) and related infrastructure assets worth Rs. 2,000 crore ($285.4 million) to Reliance Jio Infocomm.
The company said 248 MCNs covering about 5 million sq.ft. of area used for hosting the telecom infrastructure were transferred to Reliance Jio.
RCom said in May it expected to sell assets worth Rs. 18,100 crore ($2.58 billion) to Reliance Jio and Canada’s Brookfield, after the bankruptcy appeals court stopped insolvency proceedings against the cash-crunched company.>