Breaking Anil Ambani’s RCom asset sale to Mukesh’s Jio in trouble

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Shares and bonds of Reliance Communications Ltd tumbled after an Indian tribunal ordered that the wireless carrier be placed in insolvency proceedings, jeopardizing its proposed $3.7 billion asset sale to Reliance Jio Infocomm Ltd.

Source: Anil Ambani’s RCom asset sale to Mukesh’s Jio hits insolvency wall; bonds sink

 

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Don't worry Mota Bhai will find his way!!

 

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Update on this story:
RCom offered an upfront payment of Rs 500 crore to its operational creditor Ericsson, which has got an insolvency order against the Anil Ambani group firm.

RCom offers Rs 500 crore to Ericsson, NCLAT for amicable settlement