What is the latest status of Brookfield plans to buy the Reliance Jio towers business?
Answer
Answer
Government approved the proposal by Brookfield Asset Management to acquire a stake in the trust that manages Jio’s wireless infrastructure for a sum of Rs.25,200 crore. This deal had been in the discussion and approval stage for more than a year.
Brookfield will now take control of Reliance Jio Infratel via Tower Infrastructure Trust, a special trust for that purpose. This will add another $3.2 billion to the $30 billion that he has already monetized through the sale of stake in Jio Platforms and the rights issue.