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RCOM approaches telecom ministry to surrender a part of its 1800 MHz spectrum holdings

June 30, 2017

In a bid to meet its debt servicing obligations, Reliance Communications (RCOM) has reportedly approached the Telecom Ministry to surrender a part of its spectrum holdings in the 1,800 MHz frequency band. Further, the operator has also sought a refund of some of the payments that have been made for purchase of spectrum.

In its letter to the ministry, RCOM has sought permission to surrender around 0.6 MHz spectrum in the Mumbai, Karnataka, Haryana and Punjab telecom circles. The spectrum had been purchased for around Rs 3.4 billion, out of which the spectrum in the Mumbai, Karnataka, Punjab and Haryana circle costs Rs 1.6 billion, Rs 1.08 billion, Rs 0.42 billion and 0.27 billion respectively. While the spectrum in Mumbai was purchased during 2014, the bids for the other three were won during 2016. The operator has recently paid the first instalment for the purchase of spectrum in the Mumbai circle. However, the instalments for spectrum in the other three circles start in 2018.

Meanwhile, RCOM had earlier approached banks seeking a deferment in its debt servicing obligations.

 

 
 

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