Thursday, October 4, 2018

Rcom gets a breather

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Reliance Communications says that it has got relief from telecom tribunal and can now complete its planned spectrum sale, whose proceeds will be used to make payments to Ericsson India and RITL minority investors. 

The company in a filing with the exchanges says it will receive Rs 975 crore from sale of spectrum, and that it will pay Ericsson Rs 550 crore and to Reliance Infra, minority investors Rs 230 crore.

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