Lenders to Anil Dhirubhai Ambani Groups (ADAG) flagship company Reliance Communications Ltd. will treat insolvency as a last option, three people close to the development have confirmed.
Instead, lenders in the RCom case would prefer that the company complete the sale of a majority stake in its tower business to Canadian investor Brookfield Asset Management and sale of some part of the spectrum it controls presently, the people quoted above said.
Avoiding an insolvency process is an effort to minimise current provisioning requirements said one senior banker involved in the case, who is one of the three people quoted above.
In an emailed reply, RCom lender State Bank of India, said it would not respond to queries on individual accounts…
Read the full article at: https://www.bloombergquint.com/business/2017/10/03/lenders-wary-of-dragging-anil-ambanis-rcom-to-insolvency
