Reliance Communications Plans To Sell Assets

Mumbai March 21-The beleaguered telecommunication company owned by Mukesh Ambani Reliance Communications today announced that the bond holders approved their decision to sell their assets to Reliance Jio Infocom , a company owned by the brother of the owner of Reliance Communications Anil Ambani. The shareholders also gave nod to the company’s plan to sell their real estate assets according to a spokesperson of the company. He also added that the company went to the Supreme Court to complete the selling process and also not to confront the National Company Law Tribunal according to the media sources. Swedish telecommunication company Erricson accused Reliance Communication for not paying its dues. Reliance Communications recently got the permission from its shareholders to sell their entire stake to Reliance Jio Infocom of Mukesh Ambani.

by TNBC Staff Reporter on March 21, 2018

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