Anil Ambani Gets A Relief Of Rs 23000 Cr

December 29, 2017 09:54
Anil Ambani Gets A Relief Of Rs 23000 Cr

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Anil Ambani Gets A Relief Of Rs 23000 Cr:- Anil Ambani has been struggling to operate the telecom operations through Reliance Communications. He received a bail-out from his elder brother Mukesh Ambani and Reliance Jio. On the eve of their father's birthday, the brothers announced a deal that would turn out a massive relief for Anil Ambani. The deal is expected to be worth Rs 23000 crores. Mukesh and Anil announced a deal for spectrum towers and the assets of optic fibres.

RCom has been facing bankruptcy proceedings with debts of Rs 45000 crores and now the Rs 23000 crore relief will be a huge step for Anil Ambani and RCom. The operations of RCom stopped in November and he is in plans to sell the assets. Jio revealed that this deal would help the company expand soon. Ever since Mukesh Ambani launched Jio, all the mobile service providers suffered massive losses after Jio introduced some cut-throat prices.Anil Ambani revealed that RCom will have debts of just Rs 6000 crores and not Rs 45000 crores with this deal.

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Tagged Under :
Anil Ambani  RCom  Mukesh Ambani