May 18, 2018 / 7:57 AM / 4 days ago

BUZZ-India's RCom erases early gains, sinks 20 pct

(Adds fresh info, updates numbers)

** Reliance Communications Ltd (RCom) gave up early gains, plunges as much as 20 pct

** RCom’s settlement with Ericsson over dues unlikely for now, sources tell Reuters

** Media reported earlier that co in advanced talks with Ericsson for an out-of-court settlement of its dues

** Stock rose as much as 30 pct on Friday following a 56 pct surge in prvs session

** Over 555 mln shares change hands, over 5.5 times the 30-day avg volume of 96.8 mln

** India’s bankruptcy court on Wednesday admitted an insolvency plea by the Swedish telecom gear-maker against RCom, potentially delaying the Indian firm’s plans to sell assets to cut its debt

** Ericsson, which signed a 7-year deal in 2014 with co, is seeking 11.55 bln rupees ($169.9 mln) from RCom and 2 of its units ($1 = 67.9900 Indian rupees)

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