June 2, 2017 / 12:37 PM / 4 months ago

Ambani says India's RCom to complete deals by Sept to raise cash

MUMBAI, June 2 (Reuters) - India’s Reliance Communications Ltd, battered by concerns over its debt burden, said on Friday it plans to complete deals to sell part of its wireless and tower business by September 2017, three months before a deadline set by its lenders.

Anil Ambani, RCom chairman, added the company’s lenders had accepted a company-proposed overhaul plan and given the group until December to conclude the process. He added lenders would allow the company to pause debt repayments until December. (Reporting by Sankalp Phartiyal and Devidutta Tripathy; Writing by Promit Mukherjee; Editing by Clara Ferreira Marques)

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