Reliance and Bharti join hands
Posted on: 25/Apr/2013 5:56:04 PM
Mukesh Ambani’s Reliance Industries and Sunil Mittal’s Bharati Airtel have signed an MoU (Memorandum of Understanding) much to the surprise of the industry. The new friendship has been forged so that Reliance can use Airtel’s submarine cables for its new 4G network.
The companies released a joint press statement that said, ‘(We) have signed an Indefeasible Right to Use (IRU) Agreement under which Bharti will provide Reliance Jio data capacity on its i2i submarine cable… Bharti and Reliance Jio will continue to build on this strategic framework and consider other mutual areas of cooperation and development to leverage their respective assets towards offering their customers a much richer experience.’
