Tue. Mar 19th, 2024
Aircel

Country’s major telecom operators Reliance Jio, Bharti Airtel and Sterlite Technologies along with the two others are the four bidding company for Aircel’s asset. Although, a news report by The Mint revealed that lenders may not be able to recover the debt even after the bid.

Aircel Cellular and Dishnet Wireless, popularly known as Aircel suffered losses and high debts after Reliance Jio introduces the cheap data and free call services for more than 6 months. The company filed an insolvency report in February owing to the debt of worth ₹50,000 crores against its lenders. The total sum of debt constitutes ₹15,545 crores to financial creditors and ₹35,000 crores to operational creditors.

An anonymous source told Mint, “The bids have been received. But we are thinking of the possibility of a lump sum sale, that is, give all of the assets to a single party. This should get better value for the assets. In a couple of days, these talks should happen. We are hoping to get over ₹25,000 crores from asset sale proceeds.”

The assets set out for bid include 65 Mhz spectrum in the 2,100 Mhz band, 103 Mhz spectrum in the 1,800 Mhz bands and 21 MHz spectrum in the 900 Mhz band.

Reportedly, Aircel’s spectrum asset received bids only from Bharti Airtel and Reliance Jio is the sole bidder for the telecom towers.

Prior to this, 17,500 towers and 21,000 tenancies were sold by Aircel in 2010.

Leave a Reply

Your email address will not be published. Required fields are marked *