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Sistema emerges as highest bidder at $1.5 billion for remaining assets of RCOM

March 26, 2018

Russia based Sistema has emerged as the highest bidder for the remaining assets of Reliance Communications (RCOM), valuing them at $1.5 billion. These assets comprise overseas and enterprise telecom business and data centres.

Sistema’s bid stands at $1.2 billion in addition to about $300 million owed by RCOM toSistema.The Russian company is looking to fully buy out the remaining assets of RCOM, but may have to do so in parts. Earlier last week, Sistema bid for RCOM's undersea cables, data centres and domestic enterprise business.

According to industry estimates, the assets could be valued at $2 billion, but that value is fast eroding due to mounting costs. The business reported nearly Rs 12 billion of operating profit when RCOM last released quarterly results. However, with RCOM shutting down its mobile network, the overseas business is feeling the cost pressure.

 

 
 

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