RCom is selling assets, including spectrum, telecom towers and optical fibre network to Reliance Jio to raise funds and repay its Rs45,000 crore debt. Photo: Indranil Bhoumik/MintNew Delhi: The Competition Commission of India (CCI) on Thursday cleared the proposals for sale of assets of Reliance Communications Ltd (RCom) to Reliance Jio Infocomm Ltd, a person aware of the development said. Emails sent to RCom and Reliance Jio were not answered. Through this process, he hoped to cut RCom’s debt by Rs39,000 crore from the Rs45,000 crore it owed lenders at the end of October. RCom is also left with around 134 MHz of spectrum assets for which it is understood to have found other bidders.

Source: Mint March 08, 2018 18:44 UTC