Reliance Communications to sell DTH business to reduce debt
- By Reuters |
- Nov 06, 2017
- Last Updated at 17:54 IST
Telecom operator Reliance Communications Ltd (RCom) said on Monday it signed an agreement to sell its non-core Direct-to-Home business, in a bid to reduce debt load.
Veecon Media & Television will buy 100 percent equity stake in Reliance Big TV Ltd (RBTV), the DTH unit of the Anil Ambani-owned company, for an undisclosed amount, along with all existing trade and contingent liabilities.
The existing DTH license of BIG TV will be renewed and about 500 employees of RBTV will be retained, RCom said in a stock exchange filing. http://bit.ly/2An9Q6A
The deal will help reduce the liability of unsecured creditors, the debt-laden company added.
Last month, RCom reached a new debt repayment plan with lenders, including a pledge to raise up to 170 billion rupees ($2.63 billion) by selling assets.
The company, with 443 billion rupees of net debt as of March, is the most leveraged among listed Indian telecom companies.
RELATED NEWS
Posted at 16:25 PM
Posted at 16:07 PM
Posted at 15:29 PM
Posted at 15:04 PM
Posted at 13:23 PM
Posted at 12:42 PM
Posted at 12:25 PM
Posted at 12:24 PM
Posted at 09:31 AM
Posted at 09:01 AM
The Big Stories
Stocks set for worst week in 3 months on trade war worries... Read More
Global Economy: Soft patch, facade, or great decoupling?... Read More
Gold claws higher on weak dollar, but more downside seen... Read More
Sensex rises, posting fifth straight winning week... Read More
.JPG)
Euro zone second-quarter growth likely decent but trade concerns rising... Read More
OPEC moves towards raising oil supply as Iran softens stance... Read More
LIVE ADVISORY
TESTIMONIALS
SACHIN PATEL
Good performance services ..Keep up the good work!!! Really appreciate your effort.
SACHIN PATEL
Good performance services ..Keep up the good work!!! Really appreciate your effort.
Dr. Ravindra Dhivare
Advisorymandi.com is really appreciable . As they give proper calls & levels with proper SL. Advis... Read More
Dr. Ravindra Dhivare
Advisorymandi.com is really appreciable . As they give proper calls & levels with proper SL. Advisorymandi,com teaches us, how to trade in share market in proper way. Personalized services also tell you about your services like, phone calls, reminders & other suggestions are really very appreciable with polite conversations. Outstanding team effort as they are very cooperative , polite and helps in sorting out problems and queries in best possible manner.
SHAKTI
Working with Advisorymandi.com was the best decision of my life. The work is highly credible. A BIG... Read More
SHAKTI
Working with Advisorymandi.com was the best decision of my life. The work is highly credible. A BIG THANKS for their virtuoso services.
ADITYA
ADVISORYMANI.COM is a platform where you can know everything about share market and how to trade?It... Read More
ADITYA
ADVISORYMANI.COM is a platform where you can know everything about share market and how to trade?It is a best Platform for a beginner who has just started trading. Employee of advisorymandi are very friendly. They are always ready for you to help in any condition. From my opinion every beginner who wants to be a successful trader , they the should join "ADVISORYMANDI.COM"
MANDEEP
YOUR WORK SPEAKS VOLUMES OF THE KIND OF CONCEPTS IT IS-EFFICIENT,ORGANIZED and RESULT ORIENTED. WELL... Read More
MANDEEP
YOUR WORK SPEAKS VOLUMES OF THE KIND OF CONCEPTS IT IS-EFFICIENT,ORGANIZED and RESULT ORIENTED. WELL DONE!! ADVISORYMANDI.COM AND TEAM
OPINION POLL
WILL NIFTY JUNE EXPIRY SEE THE LEVEL OF 10900?
- YES
- NO
