Its the ‘Bada Bhai’ finally coming to rescue ailing younger brother. At last, all have failed to bail out RCom but the elder brother Mukesh Ambani the miracle Reliance Jio owner. Now, RCom would be saved at last as Mukesh Ambani would be paying the debts of ailing Anil’s telecom company Reliance Communications.

Post the news of bail out, RCom has seen a rally and in the past many days the shares increased by 8 times with nearly 35% increase recorded on Friday.

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Once a big telco like Jio, when Reliance came up with the low cost Reliance phone with internet, videos, live streaming and what not. It triggered a telecom revolution in India in the 2005-2006. The second revolution was in fact by Reliance Jio recently. It was no looking back for Anil but recurring costs and other expense, besides lack of uprgradation to the new network and other reasons the RCom telecom giant company finally started collapsing when big bro Mukesh launched Reliance Jio last year. Though Jio has brought sleepless nights to many teleco in India specially Airtel, BSNL, Tata, Rainbow, Vodafone but Anil’s Reliance started dying early and even after best attempts it had to ask its customers to port out of its network and choose other teleco provider as it would be rationalizing its services in a phased manner and finally shutting it down by December 31.

But it is only a few days before its end that Mukesh Ambani, the elder brother Mukesh came to rescue younger brother Anil’s Reliance and wished to buy nearly Rs25,000 crore wireless assets of Anil’s Reliance telecommunication.

The day Mukesh decided to bail out Anil is also important as it is 85th Dhirubhai Ambani’s birthday.

Here is the full media release by Reliance Jio regarding buying of wireless assets of Reliance Communications.