Ambani brothers join forces for Rs 12,000-cr telecom tower deal

June 07, 2013 12:19

Billionaire Ambani brothers today announced a Rs 12,000-crore deal, wherein Mukesh will use towers owned by a firm run by his younger sibling Anil for launch of his telecom venture.

Reliance Industries Ltd's telecom arm will lease up to 45,000 mobile masts from Reliance Communications Ltd in a deal valued at more than Rs 12,000 crore over the lifetime of the contract, the two groups announced today. The second deal between the brothers in as many months will give an estimated Rs 800 crore per annum additional revenue to Anil's Reliance Communications if the deal tenure is 15 years.

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