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

RCom says unit reaches settlement with minority investors

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

(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.

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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