Reliance Jio, the country’s top telecom service provider, is going to make a big deal with Nokia to buy the necessary equipment for the 5G network. According to sources, the company’s executives and bankers are expected to sign the deal on Thursday at Nokia’s headquarters in Helsinki. Reliance Jio had earlier bought 5G equipment from Sweden’s Ericsson for $2.1 billion. Also he will buy a new one from Nokia. Sources said the purchase is part of Jio’s plan to roll out 5G services across the country by the end of this year. Global banks HSBC, JP Morgan and Citigroup, among others, will fund the purchase of 5G equipment from Nokia. The company has taken a loan of about $ 4 billion from Nokia and Ericsson for the total purchase. Finvera will provide a guarantee for these loans to provide additional assurance to the lenders. This type of guarantee lowers the cost of financing for the borrower. Currently, Jio is the only telecom operator in the country that has access to the high-efficiency 700 MHz band.

Rahul Dev

Cricket Jounralist at Newsdesk

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