iWorld
CCI okays RCom’s asset sale to Reliance Jio
MUMBAI: The Competition Commission of India (CCI) has cleared the proposals for the sale of assets of Reliance Communications Ltd (RCom) to Reliance Jio Infocomm Ltd.
“@CCI_India approves acquisition of RCOM’s towers, optic fiber cable, right to use spectrum and media convergence nodes by RJIO,” the anti-trust regulator tweeted.
The proposals cleared include RCom’s towers, India fibre, spectrum holdings and media convergence nodes. While neither Jio nor RCom had divulged the size of the deal, sources have pegged the transaction value at Rs 18,000 crore.
The deal appears to be a win-win for both brothers as Jio gets most of RCom’s assets, giving it more firepower in its telecom business, while the Anil Ambani-promoted firm will reduce its debt overhang substantially.
Anil Ambani on 26 December, 2017 said his company had agreed to a new debt resolution plan that will see RCom sell its assets—spectrum, fibre, telecom towers and real estate other than Dhirubhai Ambani Knowledge City—and did not entail lenders and bond-holders writing off dues or converting it into equity.
Through this process, he hoped to cut RCom’s debt by Rs 39,000 crore from the Rs 45,000 crore it owed lenders at the end of October.
According to the terms of the deal, Jio will buy RCom’s assets which include 122.4 MHz of 4G spectrum in the 800/900/1,800/2,100 MHz bands, over 43,000 towers, 178,000 RKM (route km) of fibre with a pan-India footprint and 248 media convergence nodes covering five million square feet, used for hosting telecom infrastructure. At the time of the deal announcement, the companies had also said that the transaction is likely to be completed in a phased manner by March 2018.
RCom is also left with around 134 MHz of spectrum assets for which it is understood to have found other bidders.
However, an arbitration panel in an interim order recently, restrained RCom from asset sale or transfer, without its “specific permission.”
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e-commerce
ITC Sunfeast, Zepto host mango-themed experiential ‘Paglu Party’
Event blends Alphonso desserts, DIY sessions and interactive formats
MUMBAI: When mango season peaks, some savour it others go full ‘paglu’. ITC Sunfeast Baked Creations, in collaboration with Zepto, turned summer indulgence into an immersive brand experience with its ‘Mango Paglu Party’, a high-energy, mango-themed event designed to blur the line between dessert and discovery. Built around the brand’s ‘Mad Over Mangoes’ universe, the space leaned into a sensory overload bright, playful and unapologetically mango-drenched. From curated installations to social-first corners, every element was designed to be as shareable as it was experiential.
At the centre of the celebration was the fruit itself, elevated into a menu crafted using fresh, carbide-free Alphonso mangoes sourced by Zepto. The spread ranged from a flaky Mango Pista Kouign Aman to Mango Coconut Serradura Pudding and a Mango Mascarpone Cake, balancing indulgence with seasonal freshness.
But this was not a passive tasting affair. Guests were drawn into the experience through interactive formats, including a DIY dessert session led by the brand’s chef, where attendees created classics like Mango Tres Leches. Zepto chief business officer Chandan Mehndiratta also joined the session, adding a touch of brand personality to the proceedings.
A quirky highlight came in the form of the ‘Aam Paglu Prescription’, a playful, doctor-themed concept that positioned mango indulgence as the only “treatment” worth taking, turning a simple insight into a memorable activation.
The event built up to a theatrical finale, with the crowning of the ‘Aam Paglu of the Day’ followed by the cutting of an oversized mango-shaped Mango Mascarpone Cake, closing the experience on a high note.
More than just a seasonal showcase, the Mango Paglu Party reflects a broader shift in brand storytelling, where products are no longer just consumed, but experienced. For ITC Sunfeast Baked Creations and Zepto, mango season was not just about flavour, it was about creating a moment that audiences could step into, engage with and, quite literally, devour.
