Bharti Airtel has submitted conditional bids worth Rs 95 billion for Reliance Communications’ (RCOM) telecom assets which include spectrum, mobile towers and optical fibre.
VFSI Holdings Pte Limited and UV Asset Reconstruction Company Limited have also submitted their bids.
As per industry sources, Bharti Airtel seems to be the highest bidder. However, the final result will be known soon after the committee of creditors (CoC) opens all the bids.
After asking for the extension, Reliance Jio did not turn up even when the CoC had extended the deadline to suit its interest. Further, I Squared Capital, which was expected to buy RCOM’s data centre and optical fibre, has not submitted bids.
RCOM’s secured debt is estimated to be around Rs 330 billion.