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Pressure on RCom to close asset deals critical to its debt reduction

This comes on the back of debt reprieve it got from lenders a few days ago

Reuters  |  Mumbai 

Mobile carrier Reliance Communications (RCom) won breathing room after receiving a seven-month loan reprieve from lenders, but will now need to reassure investors it can accomplish two deals critical to reducing its heavy debt. Billionaire Anil Ambani, who controls India's seventh-ranked mobile carrier by customers, said on Friday it will receive a "standstill" on debt servicing obligations until December as it works on the deals that it expects will reduce its $7 billion debt by Rs 25,000 ($3.9 billion), or by 60 per cent. The announcement sent shares in RCom, as ...

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First Published: Mon, June 05 2017. 14:27 IST