India, Jan. 15 -- Reliance Industries' (RIL) telecom arm -- Reliance Jio Infocomm (Jio) and UV Asset Reconstruction Company (UVARC) have emerged as highest bidders in asset sale process of debt-ridden Reliance Communications (RCom) from which lenders expect to recover Rs 25,000 crore. Jio has placed Rs 4,700-crore bids for mobile tower and fibre assets of Reliance Infratel (RITL), a subsidiary of RCom.

Reliance Industries is India's largest private sector company. The company's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

Published by HT Digital Content Services with permission from Accord Fintech....