BUSINESS

RCom To Sell Part Of Its Wireless & Tower Business By September To Raise Cash

Anil Ambani said that the lenders had accepted a company-proposed overhaul plan and given the group until December to conclude the process.

02/06/2017 7:26 PM IST | Updated 02/06/2017 7:27 PM IST
Philippe Wojazer / Reuters

Reliance Communications Ltd, battered by concerns over its debt burden, said on Friday it plans to complete deals to sell part of its wireless and tower business by September 2017, three months before a deadline set by its lenders.

Anil Ambani, RCom chairman, added the company's lenders had accepted a company-proposed overhaul plan and given the group until December to conclude the process. He added lenders would allow the company to pause debt repayments until December.

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