RCom expects to complete Rs 25,000-cr assets sale by Aug end; to pay Ericsson Rs 550 crore
Ericsson India Pvt Ltd, which had signed a seven-year deal in 2014 to operate and manage RCom's nationwide telecom network, had alleged that it had not been paid the dues of over Rs 1,500 crore and challenged the debt-ridden firm before National Company Law Appellate Tribunal (NCLAT) .
Reliance Communications is looking to complete the sale of its business assets worth Rs 25,000 crore by the end of this month and has also agreed to pay Rs 550 crore towards settlement to Ericsson by Sept-end. Image source: Reuters