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RCom shares, bonds fall after Ericsson's insolvency petition

Ericsson is seeking a total of Rs 1,155 crore from the company and two of its subsidiaries

Reuters  |  Mumbai 

Shares in Reliance Communications Ltd extended losses on Thursday, falling nearly 3 per cent, a day after the local arm of Sweden's Ericsson filed a plea with an insolvency court against Reliance Communications. Ericsson, which signed a seven-year deal in 2014 to operate and manage Reliance Communications' nationwide network, is seeking a total of Rs 1,155 crore ($180 million) from the company and two of its subsidiaries. Reliance Communications, widely known as RCom, reported its third quarterly loss in a row last month and is trying to find ways to cut its debt after ...

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First Published: Thu, September 14 2017. 19:31 IST
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