Rcom

The sale of assets from the infrastructure division of defunct operator Reliance Communications (RCom) to an affiliate of Reliance Jio was approved by India’s bankruptcy court as part of a debt resolution plan.

Reliance Communications (RCom), which exited the Indian mobile market in 2017, received bids totalling INR250 billion ($3. 5 billion) for its defunct mobile operation during a meeting of its creditors.

Reliance Communications (RCom) completed the sale of some infrastructure to Indian startup operator Reliance Jio as part of its wide-ranging plan to cut debt.

India’s National Company Law Tribunal (NCLT) accepted an Ericsson request for troubled operator Reliance Communications (RCom) to face bankruptcy proceedings over a debt of $150 million owed to the Sweden-based vendor.

Reliance Communications (RCom) is in talks to sell its entire tower arm to Canadian investment company Brookfield Asset Management following the collapse of a proposed merger with Aircel.

Reliance Communications (RCom) will “evaluate an alternative plan for its mobile business” after a planned merger with Aircel fell through. The deal was dropped due to “inordinate delays caused by legal and regulatory uncertainties”.

Reliance Communications (RCom), one of India’s smallest mobile operators, suffered a huge net loss for its fiscal Q1 ending 30 June as turnover plunged by a third due to what the operator called “the impact of disruptive pricing and unprecedented…