Reports suggest Reliance Jio denies to pay RCom dues

Jio said they would like the agreement between the company and RCom to be cleared, but cannot give any such undertaking as asked by DoT.

Dec 20, 2018 03:12 IST India Infoline News Service

Reliance Jio Logo
Mukesh Ambani-led Reliance Industries’ Reliance Jio Infocomm clarified that in accordance with the agreement between the Jio and Anil Ambani-led Reliance Communications (RCom), the company won’t pay any previous liabilities of latter, media reports said on Wednesday.

As per media reports, Jio said they would like the agreement to be clear, but cannot give any such undertaking as asked by the Department of Telecommunications (DoT).

The development rose after reports that the Department of Telecommunications (DoT) has rejected Reliance Communication’s spectrum sale deal to Reliance Jio Infocomm.

The telecom department, on Tuesday, told RCom and Reliance Jio that it can’t approve their deal to trade airwaves as it does not conform to its guidelines. Read more.

Reliance Communications Ltd's share price ended at Rs14.25 on Wednesday, down by Rs0.01 or 0.07%, from its previous close of Rs14.26 on the BSE. The scrip opened at Rs14.25 and touched a high and low of Rs14.25 and Rs14.25, respectively. A total of, 2,62,238 (NSE+BSE) shares have traded on the counter. The current market cap of the company is Rs3,943.65cr.

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