Indian Court Allows Ericsson's Insolvency Plea Against RCom

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India’s bankruptcy court on Tuesday admitted an insolvency plea filed by Sweden’s Ericsson against Reliance Communications, potentially delaying the Indian firm’s plans to sell assets to lighten its debt load, Reuters reported. Ericsson, which signed a seven-year deal in 2014 to operate and manage Reliance Communications’ nationwide telecoms network, is seeking 11.55 billion rupees ($170 million) from the company and two of its subsidiaries. Worries about the ability of RCom, as the company is widely known, to repay its near $7 billion debt to Indian and foreign banks have been mounting for more than a year. Like other incumbents in India’s telecoms sector, RCom has been hit by a fierce price war over the last year, especially after the entry of Reliance Jio, which offered free voice and cut-price data plans. Read more.