India's RCom scraps telecom asset sale to Reliance Jio

  • Reuters
  • Stock Market News
India's RCom scraps telecom asset sale to Reliance Jio
Credit: © Reuters.

March 18 (Reuters) - Anil Ambani-led Reliance Communications Ltd (RCom) RLCM.NS said on Monday it terminated a deal to sell its telecom assets to Reliance Jio Infocomm, the mobile telecoms firm controlled by Anil's elder brother and Asia's richest man, Mukesh Ambani.

The companies ended the deal after failing to get approval from the telecoms regulator, objections from RCom's lenders and its decision to approach the bankruptcy court to resolve its debt, RCom said in a statement https://www.bseindia.com/xml-data/corpfiling/AttachLive/119d19f1-7586-4469-909c-5eafd02515b9.pdf.

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