RCom Receives Approval from Bondholders for Selling Assets to Reliance Jio

Reliance Communications (RCom) shareholders with the US $300 million bonds have approved the company’s asset monetisation plans to Reliance Jio. RCom bondholders, during a meeting, held on March 20, 2018, have approved this massive deal, which was announced back in December 2017. “The Bondholders also approved the release of their security on the Company’s assets and to accept part prepayment of their outstanding Bonds,” said RCom in the media statement.

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“The holders of the Company’s US $300 million Bonds, at their meeting held on March 20, 2018, in London, have approved with overwhelming majority the sale of assets to Reliance Jio Infocomm Limited and also monetisation of other real estate assets,” the company said in a statement issued to the media earlier today.

RCom and Reliance Jio announced the asset acquisition deal back in December 2017. With today’s approval, RCom will now sell certain assets to Reliance Jio Infocomm. The deal also includes other real estate assets, the release of security on the assets and accepting part prepayment of outstanding bonds. The assets sale already received CCI nod.

Both the companies did not reveal the exact amount of the deal, but rumours pointed out Rs 18,000 crore will be paid by Jio to RCom once it completes the assets acquisition.

However, the asset sale process is currently under the cloud due to an arbitration court order, which prohibited the sale of assets without permission, on the defence of Ericsson- the telecom gear maker, which recently moved to Delhi court on unpaid dues from RCom. With RCom’s spectrum and network infrastructure, Reliance Jio will be looking to boost its network infrasturcture.

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10 Comments on "RCom Receives Approval from Bondholders for Selling Assets to Reliance Jio"

 

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vkvk
March 21, 2018 4:40 pm 4:40 PM

repeated query
anywhere RCOM tower working?
dont want MNP just OTP

sachin
March 21, 2018 8:40 pm 8:40 PM

yes in my are rcom 4g live

Kiran Fernandes | Goa
March 21, 2018 8:30 pm 8:30 PM

It’s available online on Rcom site. You can generate an otp after giving the sim details and all.

vkvk
March 22, 2018 11:48 am 11:48 AM

dont want mnp why u telling abt it

vijay
March 21, 2018 10:54 pm 10:54 PM

want password reset otp not MNPotp

sachin
March 21, 2018 3:17 pm 3:17 PM

ae lage hue 3bts new wale kiske hai..1st.i think ae jio ke hoge pr ab tk ae live nhi hue…any idea??

IMG_20180321_150436.jpg
Nitin
March 22, 2018 6:32 pm 6:32 PM

Bhai jio ka antenna alag hota hai

Kaushik IMA
March 22, 2018 1:07 pm 1:07 PM

Is this mumbai?

sachin
March 22, 2018 3:47 pm 3:47 PM

new mumbai..vashi

Kaushik IMA
March 23, 2018 1:54 am 1:54 AM

Place looked familiar to me. I doubt it’s JIO. Might be idea, they were scouting for sites all over Mumbai circle few months back.

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