Reliance communications ltd. Agreed to pay settlement amount of rs.550 crore to ericsson on or before 30th september 2018.

Sanjay Krishna | Myequity news | Date : 06-08-2018 17:20:00 IST

RELIANCE COMMUNICATIONS LTD. AGREED TO PAY SETTLEMENT AMOUNT OF RS.550 CRORE TO ERICSSON ON OR BEFORE 30TH SEPTEMBER 2018.

SUPREME COURT ALLOWS RELIANCE COMMUNICATIONS LTD. TO PROCEED WITH ASSET MONETIZATION AGGREGATING RS 25,000 CRORE.

A Reliance Communications Limited (RCOM) spokesperson stated:"Supreme Court of India has passed an order dated August 3, 2018, removing alluncertainties, and given a clear direction that RCOM’s asset sales covering spectrum, fiber,telecom towers, MCNs and certain real estate assets, for an aggregate value of ~ Rs. 25,000 croremay now proceed."

The Company is expecting to complete all the transactions by end the August 2018, thereby accelerating its overall debt resolution plan.


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