Reliance Comms mobile unit head Safawi leaving company

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Reliance Comms mobile unit head Safawi leaving company

Reliance Communications said the head of its mobile business Syed Safawi is leaving the company after his contract ended, adding it would restructure the business to increase market competitiveness.

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Reliance Communications said the head of its mobile business Syed Safawi is leaving the company after his contract ended, adding it would restructure the business to increase market competitiveness.

Safawi's contract "has ended in the normal course and ... is not being renewed", Reliance Communications, India's second-largest mobile phone carrier by subscribers, said in a statement late on Wednesday.

Safawi had joined Reliance Communications, controlled by billionaire Anil Ambani, in 2010 after a stint with Bharti Airtel .

Reliance Communications said it was merging all its geographical units in a restructuring and all geographical heads would report to Shamik Das, who joined the company late last year as joint president and chief operating officer.

Reliance Communications has long been trying to raise funds by selling assets to cut its debt load of $6.5 billion as of September but has had little success so far.

The company is in talks with private equity firms to sell its telecoms towers business and is also said to be looking to list its undersea cable unit in Singapore.