Reliance Communications shareholders approve asset sale plan

REUTERS - Debt-laden Reliance Communications Ltd said on Friday its shareholders approved its asset sale plan, under which the telecoms carrier would sell its wireless assets to Reliance Jio Infocomm Ltd .

RCom said its debt and liabilities would reduce by about 250 billion rupees ($3.91 billion) via debt prepayment and transfer of its wireless assets to Jio, expected to close in March. http://bit.ly/2EvsChD

RCom said in December that it signed a deal to sell all its spectrum, tower, fibre optic and other telecom infrastructure assets to Jio, which is owned by Reliance Industries Ltd .

($1 = 63.8675 Indian rupees)

(Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Amrutha Gayathri)