From April 1, it would be a restructured company without any legacy and hopefully RCom would be in black by then, said Punit Garg, Executive Director, Reliance Communications.
One of the hardest hit telcos is Reliance Communications Limited. It shut down its 2G and 3G business to completely only on 4G. The company managed to get a seven-month June standstill on servicing its debt.
Reliance Communications said on Wednesday that it is not making any payment to lenders or bond-holders for the time being as it is under 'standstill period' with an invocation of strategic debt restructuring scheme.
Analysts feel shutting down the business using the bankruptcy route would invoke the bank guarantees of Aircel's Malaysian parent company Maxis.
The RComm management team is targeting to complete the whole monetization programme by March 2018, said ED Punit Garg.
The wave of consolidation continues in the telecom space. Tata Teleservices (Maharashtra) will merge with India's top service provider Bharti Airtel in a "debt-free" and "cash-free" deal.
Failure of Reliance Communications' deal with Aircel may have larger repercussions. CNBC-TV18 learns from sources that the tower sale to Brookfield has also hit a roadblock.
In an interview to CNBC-TV18, Suresh Ganapathy of Macquarie Capital Securities spoke about the finance space in general. He also shared his views on Reliance Communications (RComm)-Aircel deal falloff.
Reliance Communications (RCOM) tanked in trade yesterday as concerns over its heavy debt load were re-ignited. CNBC-TV18 learns from sources that the company aims to repay lenders by September 30. Watch Nisha Poddar of CNBC-TV18 giving more details.
With about 980 million wireless users, India's mobile market trails only that of China.
PINC Research has come out with its technical stock picks. The research firm has recommended buy rating on HDFC, HDFC BANK, REC, PFC, IDFC, IDBI, SBI, L&T, BHEL, ACC, Ambuja Cements, JP Associates, Voltas, ITC, Dabur, Indian Hotels, Lanco Infra, GMR Infra, Hindalco, Tata Steel, Tata Power, PTC India in its January 17, 2012 research report.