Bharati Airtel submits Rs 9,500 cr bids for RCom assets

Bharati Airtel submits Rs 9,500 cr bids for RCom assets

Telecom operator Bharati Airtel has submitted conditional bids of around Rs 9,500 crore for debt-ridden Reliance Communications telecom assets, including spectrum, mobile towers and optical fibre, according to an industry source. Along with Bharti Airtel, VFSI Holdings Pvt  Ltd and UV Asset Reconstruction Company Limited have submitted their bids.

"Bharti Airtel seems to be the highest bidder with bids of around Rs 9,500 crore. However, the final result will be known on Friday after the committee of creditors (CoC) opens all the bids," the source said.

E-mail query sent to Bharti Airtel did not elicit any reply.

Reliance Jio had asked for more time to submit bids but the company did not turn up even after the CoC extended the deadline to suit its interest.

I Squared Capital, which was expected to buy RCom's data centre and optical fibre, also did not submit bids.

RCom's secured debt is estimated to be around Rs 33,000 crore. Lenders have submitted claims of around Rs 49,000 crore in August.