 "Anil Ambani, RCom")
Billionaire Anil Ambani’s plan to dig his telecom unit out of a debt hole, via an asset sale to his brother’s firm, is facing a fresh hurdle that threatens to delay the deal past a March deadline.
A local arbitration tribunal on March 5 barred Reliance Communications, or RCom, from selling assets as the court examines a dispute over unpaid dues with the Indian unit of Ericsson AB.
The loss-making operator is also expected on Tuesday to seek the consent of its bondholders in London on an amended payback schedule.
RCom’s ability to navigate this twin test
A local arbitration tribunal on March 5 barred Reliance Communications, or RCom, from selling assets as the court examines a dispute over unpaid dues with the Indian unit of Ericsson AB.
The loss-making operator is also expected on Tuesday to seek the consent of its bondholders in London on an amended payback schedule.
RCom’s ability to navigate this twin test
