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Sale of Reliance Digital TV part of RCom’s debt-reduction plan
MUMBAI: In a presentation to lenders about its long-term debt reduction plan, Reliance Communications has included the sale of its direct-to-home (DTH) business.
The other assets identified for sale include real estate and under-sea cable. RCom plans to bring down its nearly Rs 45,000-crore debt by 60% by September and 80% by December.
Reliance Digital TV, the DTH arm of RCom, has just 2% share of the active subscriber base.
“RCom presented to the joint lenders’ forum a draft plan it is developing for sustainable long-term servicing of the company’s remaining debt,” The Economic Times quoted a source as saying.
RCom has been mulling hiving off its DTH business for a long time. In 2013, Reliance Digital TV and Sun Direct were exploring a merger. The match between the two is an ideal one as both of them are located on the same satellite.
Reliance Digital TV, on the other hand, has a meagre 2% share of active DTH subscriber base, according to the TRAI report. As on 31 March, the active DTH subscriber stood at 63.61 million. Sun Direct has a 9% share of total active DTH subscriber base.