RCOM gets bond holders approval to sell assets to Reliance Jio

Mumbai March 21 (IANS) Reliance Communications (RCOM) on Wednesday said its bond holders have approved the sale of its assets to Reliance Jio Infocomm.

The holders of the company s $300 million bonds further approved the monetisation of other real estate assets RCOM said in a BSE filing.

"The bond holders also approved release of their security on the company s assets and to accept part prepayment of their outstanding bond " it said.

According to the company the approval was given in a meeting held on March 20 2018 at London.

On December 28 2017 RCOM signed definitive binding agreements with Reliance Jio for the sale of the group s wireless spectrum tower fibre and media convergence node assets.

The company s scrip at the BSE on Wednesday gained 8.86 per cent or Rs 2.05 per share to Rs 25.20 from its previous close of Rs 23.15 per share.

--IANS
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