RCom asset sale: Deadline for bids extended by 10 days on Jio’s request

Reliance Communications’ committee of creditors on Wednesday extended the deadline to submit bids for assets of the debt-ridden firm by another 10 days following a request from Reliance Jio, according to sources.

Bharti Airtel, Bharti Infratel and private equity firm Varde Partners have submitted their bids for assets of Reliance Communications, while Reliance Jio has sought extension of the asset sale deal deadline by another 10 days. Airtel has placed conditional bid to buy spectrum of RCom while Bharti Infratel has submitted bids for mobile towers.

“Committee of Creditors of Reliance Communications has extended deadline to submit bids by 10 days. The bids will now be opened on November 25,” the source said.

Banking sources involved in the process told PTI that a total of six bids have come for assets of Anil Ambani-led RCom on Monday.