Indian mobile carrier Aircel Ltd. said today that it filed for bankruptcy pressured by a high debt pile and mounting losses following a price war triggered by a telecom upstart, Reuters reported. Talks between Aircel, 74 percent owned by Malaysia’s Maxis Communications Bhd, and Reliance Communications Ltd (RCom) to combine their wireless operations ended late 2017 due to regulatory and legal uncertainties, and interventions by various parties. Aircel, whose debt amounts to 155 billion rupees ($2.38 billion), then tried unsuccessfully to restructure its debt.
