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Aircel junks reports of it shutting shop, says will turn around business

Aircel and its rival Reliance Communications had planned to combine their wireless operations

Reuters  |  Mumbai 

Aircel (Website screenshot)

Telecom carrier on Friday denied local media reports that it was partly shutting down its operations, saying it was making efforts to build a profitable business.

"Media reports about as regard or shutting down operations in 14 circles is completely speculative & misleading," said in a statement.

Earlier this month, local ratings agency CARE said the carrier, majority owned by Malaysia's Maxis Communications Bhd, had delayed servicing its debt obligations.

and its rival had planned to combine their wireless operations, which would have moved part of the debt to the new company's books.

That deal fell apart last month.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, November 24 2017. 15:58 IST