April 5, 2018 / 9:25 AM / 15 days ago

BRIEF-Reliance Communications Says Supreme Court Quashes Bombay High Court Stay On RCom Asset Sale

April 5 (Reuters) - Reliance Communications:

* SUPREME COURT VACATES STAY GRANTED IN FAVOUR OF ERICSSON BY BOMBAY HIGH COURT

* LENDERS TO PROCEED WITH CO’S ASSETS SALE

* “CONFIDENT” OF ACHIEVING OVERALL DEBT REDUCTION OF ABOUT 250 BILLION RUPEES WITHIN THE NEXT FEW WEEKS

* NOW NO BAR IN IMMEDIATELY COMPLETING ASSET SALES OF SPECTRUM, MCNS AND REAL ESTATE; SAME SHALL BE CONCLUDED EXPEDITIOUSLY

* CLAIM OF MINORITY INVESTORS (WHICH IS FULLY DISPUTED BY RCOM) CAN BE MAXIMUM OF ABOUT 2-3 BLN RUPEES FROM SALES PROCEEDS

* RCOM INTENDS FILING APPEAL BEFORE NCLT ON FRIDAY, WITH A REQUEST FOR EXPEDITIOUS DISPOSAL OF SAME Source text - bit.ly/2q6T4Fk Further company coverage:

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