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RCom's Global Cloud Xchange unit files for bankruptcy

Tuesday 17 September 2019 | 08:21 CET | News
Undersea cable infrastructure company Global Cloud Xchange (GCX), a subsidiary of Indian operator Reliance Communications (RCom), has filed for bankruptcy, The Economic Times reports. The bankruptcy filing follows GCX's recent failure to pay its USD 350 million on 7 percent bonds that matured in the beginning of August. "There were lot of discussions between the members of Committee of Creditors of RCom and the bond holders if the latter could hold back, but looks like those talks failed", said an unnamed source with knowledge of the matter.

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Categories: Fixed
Companies: Global Cloud Xchange / RCom / Reliance Communications
Countries: India
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