RCom shares surge 65% after reports of Ericsson settlement
Shares of Anil Ambani-led Reliance Communications (RCom) surged 65.7% on Thursday after reports suggested that the company is in talks with Ericsson for a settlement. The National Company Law Tribunal admitted a bankruptcy plea filed by Ericsson against RCom. The Swedish equipment maker is seeking to recover dues of around â¹1,155 crore from Reliance Communications and two of its subsidiaries.