India's RCom sells $285m worth assets to Reliance Jio

 India's Reliance Communications Limited said on Thursday it completed the sale of its media convergence nodes (MCNs) and related infrastructure assets worth 20 billion rupees ($285.4 million) to Reliance Jio Infocomm.

The company said 248 MCNs covering about 5.0 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 181 billion rupees ($2.58 billion) to Reliance Jio and Canada’s Brookfield, after the bankruptcy appeals court stopped insolvency proceedings against the cash-crunched company.