Reliance Communications Non-Core Assets See No Takers

There might have been no bids until now because there’s a big uncertainty around whether NCLT would allow the sale of these assets in the first place and there are also questions around what hidden uncertainties these assets might be attached to.

Published by
Tanay Singh Thakur

Reliance Communications

Reliance Communications (RCom), a major telecom operator now under insolvency proceedings, has failed to sell its non-core assets. The company has not seen any interested party for its non-core assets, which include land in Pune, Chennai and shares of Reliance Realty and Campion Properties Ltd.

RCom had told the Bombay Stock Exchange (BSE) that the Committee of Creditors had approved the sale of non-core assets. EoI (Expression of Interest) by the bidders was first invited on April 17. However, as per an ET Telecom report, there were no bidders, and thus the EoI submission deadline was extended to June 27, 2022. Again, there were no takers.

RCom had to approach the NCLT (National Company Law Tribunal) on July 20 for approval of the sale of said assets. Since the company hasn’t received any interest in the first place, there’s no point in approaching the NCLT.

Why has No One Bid for RCom Non-Core Assets?

There might have been no bids until now because there’s a big uncertainty around whether NCLT would allow the sale of these assets in the first place, and there are also questions around what hidden uncertainties these assets might be attached to.

The company was reportedly looking to sell its enterprise business as well. But for enterprises, what RCom has today is just a bulk of voice and messaging services, whereas the other telcos have much more advanced services in their portfolio. Thus, there might be no takers for RCom’s enterprises’ business either.

Tanay Singh Thakur

Tanay is someone with whom you can chill and talk about technology and life. A fitness enthusiast and cricketer, he loves to read and write.

Share
Published by
Tanay Singh Thakur

Recent Posts

Vodafone Idea, Airtel, Jio and Adani to Get More 5G Spectrum in Future for Auction

A project to unlock and sell an extra 5,500 MHz of 5G spectrum, valued at…

Vivo Y35 4G has Launched With a Snapdragon Chip

The newest smartphone in Vivo's reasonably priced Y-series has been quietly unveiled in Indonesia: the…

Samsung Galaxy Z Flip4 and Z Fold4 Indian Prices Revealed

Reliable industry sources reported on Monday that the Galaxy Z Fold4 would cost Rs 1.55…

Apple Might Start Pushing Ads on iPhones, Apple TV+ for Additional Revenues

The bloatware-free interface on Apple iPhones is well-known. The majority of the proprietary apps that…

WhatsApp Stickers for Independence Day 2022: How to Send

India is commemorating its 75th Independence Day today. Many people rely on social media and…

PM Modi Assures 5G Coming Soon to India

Prime Minister Narendra Modi has assured the citizens of India that 5G is not far…

Airtel Brings Two New Prepaid Plans to Fight Off Jio

Bharti Airtel wants to keep users interested in its services. That is why the telco…

Jio and Airtel Could Launch 5G Today

Bharti Airtel and Reliance Jio, two of the leading telecom operators in India, could launch…

BSNL 4G, if Executed Right Can Solve Problems of Indian Consumers

Bharat Sanchar Nigam Limited (BSNL) is expected to launch 4G network using homegrown technology on…