Rcom Puts 4G spectrum on sale, to exit telecom business

Mumbai Nov 25: Another telecom company may exit the business.
Anil Ambani's RCOM may exit the mobile business as it has proposed to sell its towers and 4G spectrum (850 MHZ) which it had acquired.

Recently the company has decided to shut the 2G and 3G services and ordered the customers to port to other telecom operators and it has also shut down the DTH services.Currently, the company has a debt of Rs 47,000 crore and it has pledged to clear the debt by asset monetization.

Sources said that Airtel would be a front-runner to acquire its 4G Spectrum and the mobile towers may be also put on sale. Earlier the company hoped that the merger deal with Aircel would reduce the debt of the company but was called off due to regulatory hurdles.

Experts said that the spectrum and towers sale would lead to the exit of the company and it can concentarte on other business.