CHENNAI: Telecom major Reliance Communications (RCom), struggling under a monumental debt burden of Rs 42,650 crore is planning to pare it by as much as 75 per cent over the next year.
A large part of the debt reduction will be helped along once the ongoing merger of the company with MTS and Aircel are complete, said Chairman Anil Ambani.
The target is to reduce debt by 75 per cent within a year (from Rs 42,651 crore) and once the ongoing merger processes of MTS and Aircel with RCom are complete, it will help reduce debt by Rs 20,000 crore, Ambani told shareholders on Tuesday.
Ambani said that the merger would make the company one of the largest and most valuable companies in the country, boasting an asset base of more than Rs 65,000 cror…
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