Anil Agarwal, Mukesh Ambani join suitors' list for acquiring RCom assets

RCom referred itself to the NCLT for insolvency proceedings after it failed to repay its debt worth Rs 45,000 crore

Twin Star Technologies, a company promoted by Anil Agarwal’s Sterlite group, and Mukesh Ambani-owned Reliance Jio have expressed their interest in acquiring assets of Reliance Communications (RCom), currently undergoing insolvency proceedings at the National Company Law Tribunal (NCLT) for loan default. The billionaire duo will compete alongside other telecom majors such as Bharti Airtel and Vodafone Idea for the assets. 

Apart from RCom’s rivals, expressions of interest (EoIs) have been submitted by TPG Asia, Assets Care and Reconstruction Enterprise, American Tower’s Indian subsidiary ATC Telecom Infrastructure, India Opportunities Investments Singapore, UV Asset Reconstruction Company (ARC), JC Flowers ARC, and Varde Partners,