Mobile carrier Aircel denies reports it is partly shutting ops
Aircel and its rival Reliance Communications had planned to combine their wireless operations, which would have moved part of the debt to the new company's books. That deal fell apart last month.
Aircel has already closed down its services in the licensed services areas like Gujarat, Haryana, Himachal Pradesh, Madhya Pradesh, Maharashtra and UP.
Indian telecom carrier Aircel on Friday denied local media reports that it was partly shutting down its operations, saying it was making efforts to build a profitable business. “Media reports about Aircel as regard insolvency or shutting down operations in 14 circles is completely speculative & misleading,” Aircel said in a statement.
Earlier this month, local ratings agency CARE said the carrier, majority owned by Malaysia’s Maxis Communications Bhd , had delayed servicing its debt obligations.
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Aircel and its rival Reliance Communications had planned to combine their wireless operations, which would have moved part of the debt to the new company’s books. That deal fell apart last month.
