India's Aircel files for bankruptcy in fresh telecom sector upheaval

India's Aircel files for bankruptcy in fresh telecom sector upheaval

A banner for Aircel Ltd. is displayed outside a mobile phone store in Mumbai, India, on Monday, Oct. 24, 2016. Photographer: Dhiraj Singh/Bloomberg

Troubled telecom operator Aircel Ltd filed for bankruptcy Wednesday, the latest episode in India’s telecom consolidation, marked by exits, fire sales and mergers that began with the entry of Reliance Jio Infocomm Ltd.

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