Following Elon Musk's satellite launch, Mukesh Ambani strikes a contract worth crores

Following Elon Musk's satellite launch, Mukesh Ambani strikes a contract worth crores

Following Elon Musk's satellite launch, Mukesh Ambani strikes a contract worth crores

Brookfield and Mukesh Ambani's Jio have inked a significant agreement. Regulators will need to approve this transaction. Following the transaction, Brookfield is now a telecom tower business. Jio will benefit from this agreement while ATC India has chosen to exit the Indian market.

Jio, the firm led by Mukesh Ambani, is constantly making significant choices. Once again, Jio has made a significant choice. Mukesh Ambani has faced challenges in the industry as a result of more affordable and superior programs. Recently, Jio and the global Canadian business Brookfield inked a significant agreement.

Allow me to introduce you to Brookfield: a global telecom tower operator. This indicates that the company's clientele is diverse around the globe. Since Brookfield and Jio inked a Rs. 16500 crore transaction, the firm has grown to become the biggest telecom tower company. The agreement has already been inked, but regulatory clearance is still needed.

Until recently, Indus was India's biggest telecom tower business. Following the agreement with ATC India, Brookfield now controls 2,53,000 towers in India, compared to the company's approximately 2 lakh towers. Due to significant difficulties faced by its largest customer, Vodafone-Idea, American corporation ATC has opted to exit India after 17 years of operation. Vodafone-Idea's partner was lost as a result of operational and financial issues.

Based on credible sources, the firm is expected to generate substantial profits after Brookfield's agreement with Jio. Previously, ATC dominated this market, but it was driven out of India as Vodafone Idea entered the picture. According to Brookfield, we are placing a strong emphasis on growing our inventory of telecom towers. Customers will benefit from improved network connections as a result. Additionally, digital connection will improve.

Jio's decision will result in significant enhancements to the company's network. Elon Musk had launched the satellite a while ago. The 'Starlink' network will substantially enhance with its assistance. Everything from phone to the internet will be much better as a result.