India’s Ambanis sign $2.1b telecoms deal

Mumbai: India’s billionaire Ambani brothers announced on Friday that they had signed an agreement worth $2.1 billion to share telecom tower infrastructure, cementing a reconciliation in the once-warring family.

Reliance Jio Infocomm, the telecom unit of Mukesh Ambani-led Reliance Industries, signed the agreement with Reliance Communications, the flagship firm of the Anil Ambani group, to share the latter’s telecom tower equipment, a joint statement said.