(MENAFN) India's richest man plowed USD25bn into starting a national 4G mobile network, while now he is spending more to boost coverage amid complaints from its largest rival.
Moreover, Reliance Jio aims to raise USD4.4bn from a rights offer and will use the proceeds to enhance its network capacity, while it"s been luring 600.000 new users a day.
In addition, the funding will help Jio challenge competitors with free-for-life voice calls and free data services through March.
Meanwhile, Ambani investment in Jio is part of Reliance's plan to spread from the oil and petchem that covered almost 98 percent of income last year.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.