Indian telecom company Reliance Jio is in talks with global banks to raise $1-1.5bn through an offshore syndicated loan to purchase 5G network gear from Ericsson.
Reliance Jio: Banks involved in the discussions with billionaire Mukesh Ambani’s telecoms company include Citigroup Inc., HSBC Holdings Plc. and JPMorgan Chase & Co., said the people, who asked not to be named because the matter is private.
The pricing of the new service is not yet revealed but Ambani's Jio has a reputation for disrupting rivals in the price-sensitive Indian market with cheap offers
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