Mega telecom deal between Ambani brothers faces legal hurdle

Billionaire Anil Ambani’s plan to dig his telecom unit out of a debt hole, via an asset sale to his brother’s firm, is facing a fresh hurdle that threatens to delay the deal past a March deadline.
 
A local arbitration tribunal on March 5 barred Reliance Communications, or RCom, from selling assets as the court examines a dispute over unpaid dues with the Indian unit of Ericsson AB.
 
The loss-making operator is also expected on Tuesday to seek the consent of its bondholders in London on an amended payback schedule.
 
RCom’s ability to navigate this twin test