Reliance Jio Infocomm Ltd and Bharti Airtel Ltd on Monday submitted a bid for assets of the debt-laden Reliance Communications Ltd, sources told Mint. Today was the last day for submitting the bids, ten days after the resolution professional Anish Niranjan Nanavaty had extended the deadline.
Bharti is likely to have submitted its bids with Bharti Infratel in which it held a 33.57% stake as on 30 September. Bharti group’s participation afresh could not be independently confirmed. Airtel had submitted its bid earlier as well but had withdrawn it in protest against Nanavaty’s decision to give another ten days for bid submission on Reliance Jio’s request.
Lenders to the beleaguered Anil Ambani group company number 40, including the State Bank of India, the China Development Bank and the Industrial and Commercial Bank of China. Reliance Communications’ assets include spectrum, tower, fibre and real estate housed under its subsidiaries Reliance Telecom and Reliance Infratel.