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Bad news for RCom: Settlement with Ericsson over unpaid dues unlikely

With debt totalling Rs 457.33 billion ($6.73 billion) at end-March 2017, RCom is the most-leveraged of all listed telecoms carriers in India

Sankalp Phartiyal | Reuters  |  Mumbai 

Embattled telecoms firm Reliance Communications is in talks with Ericsson to reach a settlement outside of bankruptcy court over unpaid service dues, but a deal with the Swedish gearmaker looks unlikely for now, two sources said. India's bankruptcy court earlier this week admitted an insolvency plea filed by Ericsson against debt-laden RCom, as the company is widely known, potentially derailing the Indian telecoms firm's plans to sell assets to larger rival Reliance Jio to cut debt. RCom has approached Ericsson, but with a lack of clarity around payment of dues ...

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First Published: Fri, May 18 2018. 15:51 IST