May 29, 2018 / 6:27 AM / a month ago

RCom says unit reaches settlement with minority investors

(Reuters) - Debt-ridden Reliance Communications Ltd (RCom) said on Tuesday its unit Reliance Infratel has informed the bankruptcy appeals court of reaching a settlement with its minority shareholders in relation to the sale of its tower and fibre assets.

FILE PHOTO: A man speaks on his mobile phone as he walks past a closed shop painted with an advertisement of Reliance Communications in Mumbai, India, January 29, 2018. REUTERS/Shailesh Andrade/File photo

The settlement will enable RCom to proceed with asset monetisation as soon as it exits the debt resolution process, the company said in a statement.

Reporting By Arnab Paul in Bengaluru; Editing by Gopakumar Warrier

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