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Aircel Not Shutting Operations Partially

Aircel says it is making efforts to build a profitable business.

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Aircel Not Shutting Operations Partially

Earlier, ratings agency CARE said Aircel had delayed servicing its debt obligations.


Mumbai: Telecom carrier Aircel on Friday denied media reports that it was partly shutting down its operations, saying it was making efforts to build a profitable business.

"Media reports about Aircel as regard insolvency or shutting down operations in 14 circles is completely speculative & misleading," Aircel said in a statement.

Earlier this month, local ratings agency CARE said the carrier, majority owned by Malaysia's Maxis Communications Bhd, had delayed servicing its debt obligations.

Aircel and its rival Reliance Communications had planned to combine their wireless operations, which would have moved part of the debt to the new company's books. That deal fell apart last month.
© Thomson Reuters 2017


(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)


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