Reliance said the additional investment is required for its fibre network as it expands Jio’s 4G reach.
The combined Vodafone-Idea group will be India’s largest telecom operation with almost 400 million customers, or 35% market share.
J.S. Deepak’s transfer may have been prompted by his conflict with Reliance Jio and TRAI and reflects poorly on an already controversial, crony capitalism-prone sector.
Even as various Competition Commission hearings loom, a prominent US-based equity research group has effectively accused Reliance and the Modi government of crony capitalism.