Reliance's Jio opposes telecom lobby's plea for government help to rivals

Reuters
New Delhi, India Updated: Oct 31, 2019, 02:58 PM(IST)

File photo: A woman checks her mobile phone as she walks past a Jio store in Mumbai. Photograph:( Reuters )

Story highlights

Rival carriers can monetise their assets, investments or issue fresh equity to pay the dues, it added.

India's Reliance Industries-controlled Jio Infocomm wrote to the telecoms minister on Thursday, opposing government intervention for rival carriers Bharti Airtel and Vodafone Idea facing overdue of $13 billion.

The Cellular Operators Association of India (COAI) had earlier written to Telecommunications Minister Ravi Shankar Prasad, warning of an "unprecedented crisis" if the government refuses to relax its demand for outstanding dues.

Jio, the telecoms unit of billionaire Mukesh Ambani-controlled Reliance, said in its letter that fears of a crisis in the industry and job losses were overblown.

Rival carriers can monetise their assets, investments or issue fresh equity to pay the dues, it added.

Read in App