MUMBAI: Reliance Communications (Rcom) and Ericsson may seal a settlement pact between Rs 600 crore -700 crore, ending the eight-month battle over unpaid dues.The possible truce will help the Anil Ambani-owned telco exit the insolvency proceedings and sell most of its wireless assets to Reliance Jio Infocomm (Jio) and repay its lenders.Shares of RCom were up by 6.90%, trading at Rs 17.05 a piece, on BSE on Wednesday morning.According to sources, Ericsson may insist on bank guarantees as the principal mode of payment.Ericsson had earlier told the court on Tuesday that it would need at least Rs 980 crore, the amount admitted in the NCLT and the NCLAT. The Swedish telecom equipment maker had previously claimed RCom owes it about Rs 1,600 crore. But sources told ET that meeting between two firms went on till late Tuesday to thrash out the settlement amount agreeable to both parties . Both firms will put forth their settlement deal in front of the National Company Law Appellate Tribunal (NCLAT) today at 3 pm. The Ambani-owned telco, that is in a rush to pare its debt of Rs 46,000 crore via the Jio deal, has also sealed a pact with minority shareholders of its tower unit -Reliance Infratel on Tuesday by agreeing to pay them Rs 232 crore. The minority shareholders, including HSBC Daisy, Investments, had alleged they were being oppressed and that their consent for the sale of assets was not taken, as per the articles of association of the company. Claiming to have invested Rs 1,100 crore in July 2007, they had also filed a contempt petition against the tower arm of RCom for not providing details of its expected asset sale to Jio.The minority shareholders of Reliance Infratel will get the settlement amount once RCom resolves its dispute with Ericsson and is out of the debt resolution proceedings ordered in mid-May by the National Company Law Tribunal (NCLT).RCom is trying to sell its spectrum, fibre network, towers and switching nodes to Reliance Jio Infocomm for Rs 17,000-18,000 crore to pare Rs 46,000 crore of debt, which was stalled by the legal challenges.