The company has entered into a binding share purchase agreement with Pantel Technologies Ltd and Veecon Media & Television Ltd for sale of its subsidiary Reliance BIG TV Limited, RCom said in a statement without disclosing the deal amount.
"The transaction will help reduce the liability of unsecured creditors, benefiting all stakeholders, including lenders and shareholders of RCOM. The transaction is in consonance with RCOM’s stated objective to focus on B2B businesses of the new RCOM," RCom said.
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