RCom plans to reduce debt by mid-2017 and seal three deals, including Aircel
Advertisement
By mid 2017, Reliance Communication is aiming to complete three deals, including a merger with Aircel. The telecom company has agreed to sell a 51% stake in Reliance Infratel , the company's tower unit, to Canada 's Brookfield Group for Rs 11,000 crore. Both the plans are expected to come true by mid 2017.
"Consolidation is the only way forward in the industry.Reliance Communication is playing an upfront running role in the consolidation of the industry,” said Gurdeep Singh, Co-CEO of RCom.
These deals will help RCom reduce debt by 70% by 2018. RCom's debt stood at Rs 42,800 crore as of December 31.
Litigation involvingAircel won't have any impact on the merger process, said Punit Garg, head of strategy and regulatory affairs at RCom. "Everything is on track,” he told ET.
Advertisement
Advertisement
"Consolidation is the only way forward in the industry.
These deals will help RCom reduce debt by 70% by 2018. RCom's debt stood at Rs 42,800 crore as of December 31.
Litigation involving
Advertisement
- Indegene IPO: Company details to risk factors, all you need to know
- Savouring Goa: 6 Irresistible culinary delights you must taste
- Ultimate travel guide to Turkey for Indian tourists in 2024
- India's satcom sector to take off as IN-SPACe allows Indian players access to international orbital data
- India's satcom sector to take off as IN-SPACe allows Indian players access to international orbital data
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market