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rocket101 5/31/2018 | 4:14:38 PM
How was RCOM able to pile up so much debt in the first place?. Beleaguered Indian operator Reliance Communications is struggling to settle the claim of its creditors after racking up debts of more than 450 billion Indian rupees (US$6.63 billion).

 

How was RCOM able to pile up so much debt in the first place? This company was most likely never profitable, raked in debt after debt without any questioning from anyone. Can the article throw some light on this please? Creditors will end up taking 100% loss, not just a haircut.
UdyRegan 10/22/2018 | 12:07:33 AM
Re: How was RCOM able to pile up so much debt in the first place?. I'm reminded of something that someone has told me once before about starting up a business - how we need to spend money in order to make money. Well RC India is clearly not doing this the right way if it's managed to spend that much that it's not millions of dollars in debt. I suppose that they have way too much at stake into the game for them to just bow out gracefully, but it looks like they won't have much of a choice now...
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