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Reliance Comm

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Source :- Economic Times : NEW DELHI/MUMBAI: Reliance Communications and Ericsson are in advanced talks to settle their dispute over the telco s dues outside the insolvency and bankruptcy proceedings, said people aware of the matter, a move that drove the carrier s shares as much as 70% higher on Thursday. Right now, talks are on but no formal proposal has been made, one of the people said. Another person said, The amount to be paid is being discussed for settlement. Swedish equipment maker Ericsson has sought an undertaking that State Bank of India, one of RCom s lenders, will pay up the dues if the Anil Ambani-controlled telco does not clear the settled amount, one person said.

12.23 AM May 18th
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