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Indian court admits Ericsson's plea against RCom

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Reuters MUMBAI
Last Updated : May 15 2018 | 6:26 PM IST

MUMBAI (Reuters) - India's bankruptcy court on Tuesday admitted a plea filed by Swedish telecom gearmaker Ericsson against Reliance Communications, potentially derailing the Indian firm's plans to sell assets to lighten its debt load.

Ericsson, which signed a seven-year deal in 2014 to operate and manage Reliance Communications' nationwide network, is seeking 11.55 billion rupees ($170.21 million) from the company and two of its subsidiaries.

A lawyer for RCom, as the company is widely known, said it would appeal.

($1 = 67.8575 Indian rupees)

(Reporting by Sankalp Phartiyal; writing by Abhirup Roy; editing by Jason Neely)

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: May 15 2018 | 6:23 PM IST

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