- The merger collapse has raised new doubts around RCom's debt recast plans
- Its net debt stood at Rs 443.45 billion at the end of March 2017
- The firm has been hit by intense competition from Reliance Jio
RCom's net debt stood at 443.45 billion rupees ($6.92 billion) at the end of March. The company has earned a temporary reprieve from its lenders, which have agreed to a standstill on its debt obligations.
RCom said in a statement on Sunday it would look to monetize its spectrum through trading and sharing arrangements and continue to implement the monetization of its tower and fiber assets.
Controlled by billionaire Anil Ambani, RCom has been hit by free voice and cut-price data plans offered by the mobile market's newest entrant, Reliance Jio Infocomm, the network operator backed by Ambani's older brother and India's richest man, Mukesh Ambani, older brother of Anil.
The collapse of the deal with Aircel comes after the local arm of Sweden's Ericsson filed a plea with an insolvency court against RCom last month.
Ericsson, which signed a seven-year deal in 2014 to operate and manage RCom's nationwide network, is seeking a total of 11.55 billion rupees from the company and two of its subsidiaries.© Thomson Reuters 2017
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