Amid a management reshuffle, 1MDB missed a payment on RM2bil bridge loan that was due end-December to local lenders. That hit its bonds and fuelled broader investor concerns about Malaysia
KUALA LUMPUR: Tycoon T. Ananda Krishnan’s (pic) company is poised to lose a total of about US$7bil (RM27.5bil) from a failed 12-year foray in the Indian wireless market, marking his biggest-ever hit on a soured investment, people with knowledge of the matter said.
Ananda’s-backed mobile carrier Aircel Ltd filed to start insolvency proceedings in India, the company said on Wednesday, confirming an earlier Bloomberg News report the move was imminent.
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