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RCom shares, bonds weaken after Ericsson's insolvency petition

Reuters  |  MUMBAI 

MUMBAI (Reuters) - Shares in Reliance Communications fell as much as 2.3 percent in early trading on Thursday, a day after the Indian arm of Ericsson filed a petition seeking to drag the debt-laden telecom firm into insolvency due to unpaid dues.The Swedish telecoms equipment maker, which signed a seven-year deal in 2014 to operate and manage Reliance Communications' nationwide network, is seeking a total of 11.55 billion rupees ($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. It ...

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First Published: Thu, September 14 2017. 10:13 IST