MUMBAI: Telecom operator Aircel may start an independent debt restructuring programme now that its proposed merger with Reliance Communications has fallen through, people aware of the firm’s alternative plans said.
In an email sent to employees on Sunday night, Aircel chief executive Kaizad Heerjee said that while decision to call off the merger with Reliance Communications (RCom) “was disappointing”, the company needs “to move ahead and explore other business options”. ET has seen a copy of the email.
According to sources, a strategic debt restructuring program (SDR) is the only option left for the Malaysia’s Maxis-owned telco that cannot adopt the bankruptcy route because that would instantaneously invoke Maxis’ …
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