Moneycontrol Be a Pro
Get App
you are here: HomeNewsBusiness
Last Updated : Nov 01, 2019 05:15 PM IST | Source: Moneycontrol.com

Reliance Jio refutes COAI stance on industry in a letter to Telecom Minister Ravi Shankar Prasad

In a press release, Jio has refuted the Cellular Operators' Association of India stance that the telecom industry will collapse without any support from the government.

Reliance Jio, in a letter to the Minister of Telecommunications Ravi Shankar Prasad, has said that it does not agree with the Cellular Operators Association of India's view on the state of the telecom industry and that it was their own doing.

In a press release, Jio has refuted the COAI’s stance that the telecom industry would collapse without any support from the government.

Also Read: COAI urges govt panel to prioritise AGR issue, suggest relief measures within 60 days

Close

The company stated that its competitors could take care of all its financial obligations to the government by selling existing assets and issuing fresh equity.

Also Read: Jio lashes out at COAI for not taking its views into consideration

Jio said the letter by COAI to the government did not represent the view of the industry and that COAI’s effort was a ‘sham’ exercise "at the behest of and perpetrating the vested interest of two select members alone."

Below is the full text of the letter.

12345

(Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust, which controls Network18 Media & Investments Ltd)

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Oct 31, 2019 03:54 pm
Loading...
Sections
Follow us on
Available On