Indian telecom Reliance pays $67.42 million to Sweden's Ericsson

Published On: March 18, 2019 09:30 PM NPT By: Reuters


Indian telecom Reliance pays $67.42 million to Sweden's Ericsson
Photo Courtesy: Reuters

NEW DELHI, March 18: Swedish telecom equipment maker Ericsson has received 4.62 billion rupees ($67.42 million) from Indian telecoms firm Reliance Communications Ltd (RCom), a spokeswoman for Ericsson said on Monday.

Late last month, India’s top court had ordered Anil Ambani’s RCom and two of its directors to pay Ericsson 4.5 billion rupees within four weeks or face a three-month jail term for contempt of court.

RCom owes a total 5.71 billion rupees to Ericsson, including a one-time settlement of 5.5 billion rupees and interest payments of 210 million rupees.

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