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  Business   Companies  16 Feb 2018  RCom shareholders approve asset sale plan

RCom shareholders approve asset sale plan

REUTERS
Published : Feb 16, 2018, 1:36 pm IST
Updated : Feb 16, 2018, 1:36 pm IST

RCom in Dec signed a deal to sell all its spectrum, tower, fibre optic and other telecom infrastructure assets to Jio.

RCom chairman Anil Ambani.
 RCom chairman Anil Ambani.

Debt-laden Reliance Communications Ltd said on Friday its shareholders approved its asset sale plan, under which the telecoms carrier would sell its wireless assets to Reliance Jio Infocomm Ltd.

RCom said its debt and liabilities would reduce by about 250 billion rupees ($3.91 billion) via debt prepayment and transfer of its wireless assets to Jio, expected to close in March.

 

RCom said in December that it signed a deal to sell all its spectrum, tower, fibre optic and other telecom infrastructure assets to Jio, which is owned by Reliance Industries Ltd.

Tags: reliance communications, asset sale, debt
Location: India, Delhi, New Delhi