India's RCom Says to Appeal Court Order on Sale of Tower, Fibre Assets

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India's Reliance Communications Ltd (RCom) will appeal a court order that stays the sale of some telecom assets of one of its units, the company said in a statement on Monday, the International New York Times reported on a Reuters story. The National Company Law Tribunal, India's designated court for bankruptcy cases, on Monday stayed the sale of assets of Reliance Infratel Ltd in response to a petition filed by HSBC Daisy Investments (Mauritius) Ltd, local media reported. RCom will file an appeal before an appellate tribunal challenging the stay, a company spokesman said, adding that the stay only pertained to the firm's tower and fibre assets. Separately, an arbitration tribunal last week barred the debt-laden RCom from selling assets without its permission in a case of money owed to Swedish telecom gearmaker Ericsson. Read more. (Subscription required.)