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Airtel, RIL, three others may submit bids for RCom assets today

Airtel, RIL, three others may submit bids for RCom assets today

New Delhi: Bharti Airtel, Reliance Industries and three others are likely to bid for the assets of debt-ridden Reliance Communications on Monday, according to sources close to the development.

The last date to submit bids will end on Monday and RCom (Reliance Communications) committee of creditors will also meet on the same day to open bids.

According to the sources, five bidders are expected to submit bids for RCOM assets on Monday. Reliance Industries will submit its bid through its subsidiary.

"Varde Partners, Bharti Airtel and Reliance Industries, UV Asset Reconstruction Company (UVARCL) are among the main contenders for RCom assets," sources aware of the development said.

Bharti Airtel, which has withdrawn its earlier bid after the CoC granted 10 days' extension for the submission of bids, will be putting in a fresh bid, the source said.

"All the bidders will be submitting separate bids for RCom, RTL and RTIL. There will be minimum nine bids from four bidders," another source said.

UVARCL had earlier bid for Aircel assets.

"Also, private equity firm I Squared Capital is bidding for RCom's Data Centres and Optic Fibre assets," sources said.

RCom's secured debt is estimated to be around Rs 33,000 crore. Lenders have submitted claims of around Rs 49,000 crore in August.

PTI

PTI

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