You are here: Home » Companies » News
Business Standard

China Development Bank in talks with RCom as firm plans to reduce debt

RCom had a net debt of Rs 450 billion at the end of October, putting it among India's most indebted companies

Reuters  |  BEIJING 

China Development Bank, a creditor of Reliance Communications Ltd, said it is in talks with the Indian wireless carrier, following a plan by the Anil Ambani-backed firm to reduce its debts. Any progress will be disclosed in the near future, the Chinese bank told Reuters late Thursday in response to a request for comment on the Indian carrier's debt-reduction plan. RCom, as the Indian carrier is known, announced on Tuesday a plan to slash its debt by 390 billion rupees ($6.1 billion) underpinned by the sale of some of its spectrum, tower, fibre and real estate assets for which ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Fri, December 29 2017. 09:56 IST
RECOMMENDED FOR YOU