Reliance Communications calls bondholders#39; meet over asset-sale plan
Debt-laden telecoms carrier Reliance Communications Ltd will hold a meeting of its bondholders on March 6 to seek approvals for asset-sale plans, the company said in a regulatory filing late on Monday.
RCom, as the company is widely known, did not provide much details.
The company said it has given more information in the notice sent to holders of its USD 300 million 6.5 percent bonds due 2020.
The company had agreed in December to sell most of its wireless assets to another carrier, Reliance Jio Infocomm Ltd, and would use the proceeds to pare its debts.
($ 1 = 64.2700 Indian rupees)