India’s Reliance Communications has been thrown for a loop after the market’s telecoms ministry refused to approve the company’s deal to sell spectrum to Reliance Jio Infocomm.
The ministry has informed the parties that it cannot approve the transaction because it violates India’s spectrum trading norms, the Economic Times reported.
The issue lies in the fact that Reliance Jio Infocomm is refusing to be held liable for RCom’s past spectrum-related dues owed to the government, the report states.
