RCom plans to reduce debt by mid-2017 and seal three deals, including Aircel

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 involving Aircel 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.