By: Anil Satapathy, The Mobile Indian, New Delhi
Last updated : Wednesday, September 28, 2016 - 12:18
Reliance Communication (RCom) is struggling with huge debts of about Rs 40,000 crore and it is aiming to reduce it by 75 per cent in the next one year.
Reliance Jio and Reliance Communications are now virtually merged, Reliance Group chairman Anil Ambani said yesterday.
"What we have accomplished is a virtual merger between RJio and RCom," Anil Ambani said at the company's annual general meet in Mumbai.
"Our spectrum is shared, our network is shared, our fibre is shared, our towers are shared, our voice is shared, and every effort to reach synergies, every effort to lower cost and to be capital light has been achieved," Ambani added referring to RCom and RJio deals for spectrum and infrastructure sharing.
Reliance Communication (RCom) is struggling with huge debts of about Rs 40,000 crore and it is aiming to reduce it by 75 per cent in the next one year. It has recently merged with Aircel which is expected to bring down its debt by Rs 20,000. RCom is also trying to sale its towers to reduce debt.
On the other hand, Mukesh Ambani's Reliance Jio has just entered the telecom segment and with RCom it could gain a huge boost. Infact, RCom since the start of this year reportedly allowed Jio to test its network by upgrading all its data users Jio's 4G network.
As per TRAI's data (as on 30th June 2016), RCom has 9.54 per cent market share.