RCom announces new debt reduction plan with no write-offs

MUMBAI (Reuters) - Anil Ambani, the businessman backing Reliance Communications Ltd, said on Tuesday the company would reduce its debt by about 250 billion rupees ($3.90 billion) through the sale of some of its spectrum, tower and real estate assets.

The reduction would allow the company to provide "zero" write-offs to lenders and bondholders, as well as no conversion of debt to equity, Ambani told a news conference.

($1 = 64.0600 Indian rupees)

(Reporting by Zeba Siddiqui in Mumbai; Editing by Rafael Nam)