The department of telecommunications (DoT) told Reliance Communications and Reliance Jio Infocomm that it can’t approve their deal to trade airwaves as it does not conform to its guidelines, reported The Economic Times.
The deal is seen as a big blow to the Anil Ambani-owned telco’s efforts to repay creditors and avoid insolvency proceedings, said the report.
“The trading rules clearly say DoT can ask both the operators or any one of them to pay the dues. Since Jio has imposed conditions, we cannot accept it (the deal) as it goes against the guidelines,” a senior DoT official told the newspaper.
Both RCom and Jio did not respond to ET’s queries.