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Reliance Jio, Airtel Among Others Lock Horns Over Anil Ambani’s Reliance Communications Assets
Reliance Communications has a long-standing debt of around Rs 46,000 crore which it owes to 30 financial creditors.(representative image) (Photo by Satyabrata Tripathy/Hindustan Times via Getty Images)
Reliance Jio Infocomm and Bharti Airtel are among the dozen companies including various asset management companies and telecom tower operators to have submitted their expressions of interest for the assets of Reliance Communications, Reliance Telecom and Reliance Infratel units, reports ET Telecom.
“Around 10-12 firms have sent in their expressions of interest. Bharti Airtel and Jio are part of it,” a source close to the matter. Vodafone Idea is the only telecom in the top-three to not feature on the list of suitors.
14 broadcasting airwaves, 43,000 telecom towers under Reliance Infratel, some fibre and real estate are the assets of RCom listed for sale. The Anil Ambani-led company will lose a huge part of its current revenue once its license of the 800 MHz 4G spectrums expires in 2021.
Reliance Communications has a long-standing debt of around Rs 46,000 crore which it owes to 30 financial creditors. Further, the company and its units have various operational creditors as well.
Sunil Mittal’s Bharti Airtel wants RCom’s assets due to the upcoming 5G plans after acquiring airwaves. Airtel faced a setback following the success of Jio and is looking forward to reviving its market share by purchasing the bankrupt RCom’s airwaves.
With various private equity firms wanting deals in the sector, the battle for asset acquisition may become intense. The main competition remains on assets rather than a spectrum, and hence increasing the competition between the telecom operators.
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