New Delhi: Reliance Communications (RCom) said on Wednesday it
expects to complete its asset sale to Reliance Jio Infocomm and Canada's
Brookfield in coming weeks, after the bankruptcy appeals court halted
insolvency proceedings against the debt-laden company. The Rs. 18,100 crore
($2.7 billion) sale of wireless assets will include airwaves and mobile masts
to Jio and Brookfield, as RCom, controlled by businessman Anil Ambani, aims to
prune its debt pile.
Brookfield did not immediately respond to a request for comment.
The move follows a settlement with Ericsson for partial payment of dues owed by RCom to the Swedish company.
Brookfield did not immediately respond to a request for comment.
The move follows a settlement with Ericsson for partial payment of dues owed by RCom to the Swedish company.
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