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India's Reliance Communications obtained creditor consent for the sale of corporate communications assets to Reliance Jio Infocomm, which includes its holdings of the International Subsea Network System, fixed-line telecommunications networks and data centers
in India.
According to the Financial Times of India, five companies have already expressed interest in acquiring the remaining telecom assets for sale at Reliance Communications, including New York-based private equity fund I Squared Capital, Hong Kong's PCCW and Russian telecommunications company Sistema
.
According to the company announcement, "holders of the Company's US$300 million bonds have overwhelmingly approved the sale of assets to Reliance Jio Infocomm Limited and the monetisation
of other real estate assets at a meeting held in London on March 20, 2018.
”
"Creditors also approved the waiver of their security for the company's assets and accepted an advance payment on a portion of the prepaid bonds," the statement added
.
India's Reliance Communications obtained creditor consent for the sale of corporate communications assets to Reliance Jio Infocomm, which includes its holdings of the International Subsea Network System, fixed-line telecommunications networks and data centers
in India.
According to the Financial Times of India, five companies have already expressed interest in acquiring the remaining telecom assets for sale at Reliance Communications, including New York-based private equity fund I Squared Capital, Hong Kong's PCCW and Russian telecommunications company Sistema
.
According to the company announcement, "holders of the Company's US$300 million bonds have overwhelmingly approved the sale of assets to Reliance Jio Infocomm Limited and the monetisation
of other real estate assets at a meeting held in London on March 20, 2018.
”
"Creditors also approved the waiver of their security for the company's assets and accepted an advance payment on a portion of the prepaid bonds," the statement added
.
