RIL AGM: What to expect

As we all know Reliance Jio is making headlines ever since it has announced its tariff plan and now the company is likely to give another jitter to telecom industry as Reliance Industries Limited (RIL) is holding Annual General Meeting at 11 AM today and it is expected that Mukesh Ambani is likely to launch fiber to the home (FTTH) broadband connections with 1.1 terabytes (TB) of a free data of 100 megabits per second (Mbps).

However, there is a new report from Indian Express which says that the company will launch fibre services by the end of the year.

There is another report which informed that Jio is also planning to unveil this service for both households and enterprise customers and it is eyeing 100 million television households across 30 cities in India.

According to the report, customers will get Jio Fiber connection by paying an interest-free security deposit of Rs. 4,500 and the telco has already laid out more than 3 lakh kilometres of optic fibre network across India.

Meanwhile, the company announced that it is all set to acquire Radisys Corp. or $1.72 per share in cash.

The transaction is subject to certain customary closing conditions, including regulatory approvals and approval of Radisys' shareholders, and is expected to close in the fourth quarter of 2018.

RIL intends to finance the transaction through its own internal accruals, as per the statement.

RIL also informed that Covington & Burling LLP is acting as legal advisor and Ernst & Young provided diligence and tax advisory services to RIL while Raymond James & Associates, Inc. is acting as financial advisor and Baker & McKenzie LLP is acting as legal advisor to Radisys.

Since the commencement of services on 5th September 2016, Jio has become the fastest growing technology company in the world and now it has crossed the 200 million subscriber mark.