| Reliance Communications (RCOM) Related news |
RCom firm to provide Reliance Jio deal information to offshore investors
Posted on 20th February 2018 |
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Mumbai: In a long-drawn dispute between Reliance Infratel Ltd, a telecom tower infrastructure arm of Reliance Communications Ltd (RCom), and its minority shareholders HSBC Daisy Investments (Mauritius) Ltd, the Anil Ambani-controlled company has agreed to share details of the deal to sell off its assets to his elder brother Mukesh Ambani-controlled Reliance Jio. |
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Shareholders okay RCom asset monetisation plan for servicing Rs 450-bn debt
Posted on 17th February 2018 |
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Debt-ridden telecom operator RCom said on Friday its shareholders had approved an asset monetisation plan which would be used to repay dues. “The shareholders of the company approved the monetisation of its assets. The company announced the results of postal ballot on February 15, 2018, whereby the shareholders approved the resolution to monetise spectrum, towers, fibre, telecom infrastructure and other assets with overwhelming majority of 99.91 per cent,” RCom said in a statement. |
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RCom shareholders approve asset monetisation plan
Posted on 16th February 2018 |
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Debt-ridden telecom operator RCom today said its shareholders have approved an asset monetisation plan which will be used to repay dues. “The shareholders of the company approved the monetisation of its assets. The company announced the results of postal ballot on February 15, 2018, whereby the shareholders approved the resolution to monetise spectrum, towers, fibre, telecom infrastructure and other assets with overwhelming majority of 99.91 per cent,” RCom said in a statement. |
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Trai slams RCom for 'usurping' balances of customers after shutting ops
Posted on 7th February 2018 |
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Telecom regulator Trai on Tuesday slammed Reliance Communications for "usurping" unspent prepaid balances and security deposit of its mobile customers after operations were shut down, calling it "unethical, immoral and unjustified". Trai Chairman R S Sharma warned of punitive action if the billionaire Anil Ambani-led company fails to comply with its directive. |
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Lower loss propels R-Com
Posted on 31st January 2018 |
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Mumbai: Shares of Reliance Communications (R-Com) on Tuesday jumped nearly 10.5 per cent after the company managed to narrow its consolidated loss to Rs 130 crore for the quarter ended December 2017. The R-Com scrip gained 10.46 per cent, or Rs 2.85, to end at Rs 30.10 on the BSE. During the day, it rose around 19 per cent to Rs 32.40. |
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RCom sees sharp cut in Q3 consolidated loss at Rs 130 crore
Posted on 30th January 2018 |
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Reliance Communications (RCom) announced on Monday that its planned exit from the consumer business has resulted in a sharp drop in the company’s consolidated net loss sequentially to Rs 130 crore for the three months ended December 31, 2017 from a net loss of Rs 2,712 crore in the July-September 2017 period. |
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RCom shares top trading volume, drop over 6% ahead of Q3 results
Posted on 29th January 2018 |
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RCom shares topped the trading volumes on National Stock Exchange on Monday dropping over 6% ahead of the Q3 results due later today. Shares of Anil Ambani’s telecom company Reliance Communications shed 6.52% to hit the day’s low of Rs 26.5 on NSE. A heavy trading volume had been observed in the shares of Reliance Communications, as at 12:05 pm, more than 5 crore shares exchanged hands on both NSE and BSE with about 4.58 crore shares of NSE alone. |
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RCom to build $600 million undersea cable network
Posted on 17th January 2018 |
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Mumbai: Reliance Communication (RCom), which is in the middle of a major debt restructuring, on Tuesday said it would construct a 22,000km undersea cable network at an investment of $600 million, a move that would help expand the company’s enterprise segment after it shut down its wireless service, a top company executive said. |
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China Development Bank withdraws insolvency petition against RCom
Posted on 5th January 2018 |
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China Development Bank (CDB), the biggest foreign lender to India's Reliance Communications Ltd (RCom), on Friday withdrew a petition seeking to drag the indebted telecoms carrier into insolvency. A lawyer for CDB told the National Company Law Tribunal that the Chinese bank had filed to withdraw the petition. The tribunal allowed CDB's plea to go forward. |
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RCom to sell wireless business to Reliance Jio; stock hits 52-week high
Posted on 29th December 2017 |
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Shares of Anil Ambani-owned Reliance Communications (RCom) zoomed 35% to Rs 41.77, also its 52-week high on the BSE in early morning trade after Mukesh Ambani-led Reliance Jio said it will acquire RCom's mobile business assets including spectrum, mobile towers and optical fibre network of the company. On the National Stock Exchange (NSE), the stock rallied 30% to Rs 40.15 in intra-day trade. "Reliance Jio Infocomm, a subsidiary of Reliance Industries Limited, today announced signing of definitive agreement for the acquisition of specified assets of Reliance Communications Limited and its affiliates," Reliance Jio said in a statement. |
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