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RCOM’s CoC extends deadline for submission of bids by 10 days

November 14, 2019
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Reliance Communications' (RCOM) committee of creditors (CoC) has extended the deadline to submit bids for assets of the operator by another 10 days. The move comes after Reliance Jio had requested for the extension.

According to industry sources, the bids will now be opened on November 25, 2019.

RCOM, which is going through insolvency proceedings, had received bids from about six firms including Bharti Airtel, Bharti Infratel and private equity (PE) firm, Varde Partners for the sale of its assets.

However, Reliance Jio had not placed its bid for the assets and had sought a 10-day extension.

While Airtel has placed conditional bids to buy RCOM’s spectrum, Bharti Infratel has submitted bids for its mobile towers.


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