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Reliance Communications (RCom), has received approval from bondholders for their asset sale plan, which includes the sale of certain assets to Reliance Jio Infocomm Ltd.
In February, RCom got shareholders’ approval, to sell its wireless assets to Reliance Jio, the telecom unit of Reliance Industries Ltd.
The bondholder’s have given approval to monetisation of other real-estate assets and it also received green signal for the partial release of note-holder collateral to help the sale get underway, and the proceeds would be used for partial redemption of notes.
