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Aircel likely to recast Rs 200 billion debt if merger with RCOM fails to secure approval

August 11, 2017


Aircel is looking to consider an independent restructuring strategy of its Rs 200 billion debt as one of the options for continuing operations on its own in case the proposed merger with Reliance Communications (RCOM) does not get approved by various government authorities including National Company Law Tribunal (NCLT).

The operator has approached financial consultants to explore such a restructuring and has sought advice on whether it could use insolvency or debt recast to cut debt and continue as a niche player in a limited number of circles.

The NCLT is slated to hear the merger petition on August 14,2017. RCOM’s lenders including China Development Bank, vendors such as Ericsson and Bharti Infratel and the Department of Telecommunications (DoT) have raised objections to the merger proposal.


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