Reliance Jio, Airtel and Other Companies Show Interest in Buying Assets and Spectrum from RCom

As the bankrupt telecom operator, Reliance Communications, seeks to sell its assets, it has found many takers for its sale, and it includes some of the big names like Bharti Airtel and Reliance Jio Infocomm. As per a new ET report, the people aware of the matter said that Reliance Jio Infocomm, Bharti Airtel, asset management firms and telecom tower operators have sent Expression of Interest (EoIs) thus showing interest in the acquisition of assets of Reliance Communications. Although the list of companies showing interest in the asset sale is long, it does not include Vodafone Idea, which is currently having the worst financial troubles in the industry.

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Private Equity Firms Also Join the Line  

As per the person aware of the matter, “Around 10-12 firms have sent in their expressions of interest. Bharti Airtel and Jio are part of it.” The person also added that legal battle in this ongoing process would be a key concern. When posed with questions, Bharti Airtel, Reliance Jio and Vodafone Idea did not return any comments. Same was the case with Deloitte which has been given the responsibility of carrying out the court-monitored bankruptcy proceeding of Reliance Communications.

Among the assets that have been put up for sale are airwaves in 14 of India’s 22 telecom circles, about 43,000 telecom towers under the name of Reliance Infratel and some fibre and real estate assets. Also, RCom’s licenses over the 800 MHz spectrum are slated to expire on July 2021. Speaking of the debt, which the Anil Ambani led telecom operator holds, the telco has been confirmed to be in neck-deep debt of about Rs 46,000 crore. As many as 39 financial creditors have claimed Rs 49,193 crore from the insolvent telco. In addition to financial lenders, RCom and its subsidiaries also have numerous operational creditors as well.