RCom said the companies ended the deal after failing to get approval from the telecoms regulator
Industrialist Anil Ambani-led Reliance Communications Ltd (RCom) said on Monday it terminated a deal to sell its telecom assets to Reliance Jio Infocomm, the mobile telecom firm controlled by Anil's elder brother and Asia's richest man, Mukesh Ambani. The announcement comes at a time when Anil Ambani's Reliance Group, a diversified business empire, is facing falling valuations of group companies and a loss of goodwill, sparking heavy selling of pledged shares.