Brookfield Infrastructure Acquires Indian Telecom Assets From Reliance Jio
Brookfield Infrastructure Partners (NYSE: BIP)(NYSE: BIPC), the infrastructure arm of global asset manager Brookfield Asset Management (NYSE: BAM), announced on Tuesday that it has just struck a major deal: Along with its institutional partners, Brookfield Infrastructure has acquired a 100% stake in the telecom assets of a tower company in India that belongs to the nation's largest conglomerate, Reliance Industries, run by Mukesh Ambani, the world's fourth richest person and India's richest.
The deal, worth $3.4 billion, was in the works for several months, but had run into several regulatory hurdles in India. For Brookfield, the approval and closure couldn't have come at a better time: The telecom company, Reliance Jio Platforms, is grabbing eyeballs of a who's who thanks to its recent fundraising spree.
Some of the well-known companies that recently pumped money into Jio Platforms include:
Source Fool.com
