Bharti Airtel walks away from RCom asset sale - Mobile World Live

Bharti Airtel walks away from RCom asset sale

18 NOV 2019

Bharti Airtel accused creditors charged with selling-off assets from bankrupt rival Reliance Communications (RCom) of being extremely unfair and biased as it withdrew a bid to acquire spectrum from the defunct operator, Business Standard reported.

In a letter to the committee conducting the sealed auction, Bharti Airtel finance director Harjeet Kohli slammed a decision to extend the bidding deadline by 10 days on request of another interested party, when its similar attempt had been turned down.

The operator and infrastructure affiliate Bharti Infratel had already submitted its bids, alongside other parties, when the committee decided to extend the deadline by ten days to 25 November.

Although Kohli did not specify which rival had successfully negotiated a later deadline, last week it was widely reported in India Reliance Jio had sought an extension.

Prior to falling into the insolvency process RCom had been on the verge of selling tower, fibre and spectrum assets to Reliance Jio as part of a plan to cut its huge debt pile. However, after lengthy wrangling with regulators the potential buyer walked away.

As insolvency professionals continue the process of dismantling RCom’s telecoms business, Economic Times reported its chairman Anil Ambani had formally resigned from his post.

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Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

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