• Rajasthan

    Cong 99
    BJP 73
    RLM 3
    OTH 24
  • Madhya Pradesh

    Cong 114
    BJP 109
    BSP 2
    OTH 5
  • Chhattisgarh

    Cong 67
    BJP 15
    JCC 7
    OTH 0
  • Telangana

    TRS-AIMIM 95
    TDP-Cong 21
    BJP 1
    OTH 2
  • Mizoram

    MNF 26
    Cong 5
    BJP 1
    OTH 8

* Total Tally Reflects Leads + Wins

RCom shareholders approve asset monetisation plan

By: | Published: February 16, 2018 12:55 PM

Debt-ridden telecom operator RCom today said its shareholders have approved an asset monetisation plan which will be used to repay dues.

RCom, monetisation plan, asset monetisation plan, telecom operator, The company which is reeling under debt of around Rs 45,000 crore said that post monetisation, the debt and liabilities of RCom will reduce by about Rs 25,000 crore by prepayment of debts and transfer of Department of Telecommunications’ Spectrum Installments.

Debt-ridden telecom operator RCom today said its shareholders have approved an asset monetisation plan which will be used to repay dues. “The shareholders of the company approved the monetisation of its assets. The company announced the results of postal ballot on February 15, 2018, whereby the shareholders approved the resolution to monetise spectrum, towers, fibre, telecom infrastructure and other assets with overwhelming majority of 99.91 per cent,” RCom said in a statement.

The company which is reeling under debt of around Rs 45,000 crore said that post monetisation, the debt and liabilities of RCom will reduce by about Rs 25,000 crore by prepayment of debts and transfer of Department of Telecommunications’ Spectrum Installments. The loss making firm has stopped voice call services and is continuing operations of its business-to-business division.

“These B2B businesses are stable, capital light and have sustained and predictable annuity revenues and profits, with immense growth potential amidst relatively low competitive intensity, ” RCom said.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition