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Reliance Communications, has presented a new zero write off debt management plan. Under this plan, the lenders will get 51% holdings in the company.
As per the new plan, which is yet to be approved by bank, RCom will sell part of its spectrum, fiber and tower assets which are likely to fetch about Rs.17,000 crore.
RCom will also close its 2G and 3G voice business and going forward, it will focus on 4G and B2B segments.
Further, the company will convert Rs.7,000 crore debt into equity. At present the company has a debt of over Rs.45,000 crore.
