| Reliance Communications (RCOM) Related news |
RCom plans to issue shares to lenders in lieu of debt
Posted on 10th August 2017 |
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NEW DELHI: Telecom operator Reliance Communications (RCom), which is reeling under debt of about Rs 45,000 crore, plans to issue shares to lenders for the debt that it has raised from them, as per a regulatory filing of the company. The board of RCom is scheduled to meet on August 12 which will consider convening annual general meeting of shareholders to enable the firm seek their nod for converting debt into equity shares. |
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RCom, Aircel merger deal on sticky ground
Posted on 31st July 2017 |
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NEW DELHI: The proposed merger of Reliance Communications wireless business and Aircel is clouded with more uncertainty with the Department of Telecommunications setting the Supreme Court's go-ahead a condition for it to approve the deal. The department, though, is close to clearing the merger of Sistema's Indian business with RCom, people aware of the process said. The SC had earlier this year threatened to cancel Aircel's licences if the top executives of its Malaysian parent, Maxis Berhad, continued to evade Indian courts over a case where they were accused of bribing politicians and officials. |
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Reliance Communications’ Unlimit, China’s Fibocom tie-up to develop IoT solution
Posted on 19th July 2017 |
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Reliance Communications’ Unlimit today announced a strategic alliance with Chinese telecom gear maker Fibocom to design and manufacture modules for wireless communications and develop internet of things (IoT) solutions. Unlimit said the number of connected devices in India is projected to rise from 200 million today to 3 billion by 2020, and nearly every part of the economy will be positively impacted by IoT. |
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Reliance Jio adds 5 mn users in May, Airtel still emerges mkt leader
Posted on 14th July 2017 |
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Reliance Jio added nearly 5 million users ( 4,786,324 subscribers ) and controlled 9.94 per cent of the telecom market in May, shows the latest report by the Telecom Regulatory Authority of India (Trai). In May, Airtel led in terms of overall telecom market share, with 23.59 per cent subscribers. It was followed by Vodafone with a 17.86 per cent share, and Idea with 16.62. Reliance Jio was a distant fourth with 9.94 per cent subscribers. |
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RCom seeks relaxation in cross-holding norms
Posted on 11th July 2017 |
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Reliance Communications (RCom) has sought relaxation in cross-holding norms so that companies can sell equity to existing telecom operators. Under the current unified licencing (UL) regime introduced in 2013, telecom service providers are barred from holding either direct or indirect stake in other incumbents providing services in the same area. |
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Reliance Communications, Aircel merger: Objection by GTL may be taken up by NCLT
Posted on 7th July 2017 |
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Even as the National Company Law Tribunal (NCLT) takes a call on the RCom-Aircel merger later this month, it may consider an objection filed by a subsidiary of GTL against Aircel, an operational creditor. Meanwhile, lenders to Reliance Communications (RCom) will meet the firm’s management on Friday to review the telco’s financials. Chennai Network, a subsidiary of GTL, is believed to have objected to the merger in January this year. This was on the grounds that Aircel has not received an NOC (no objection certificate) from it for the merger with RCom, sources told FE. RCom is understood to have received NOCs from its lenders. |
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Debt-hit RCom seeks to give up Rs 340 crore worth spectrum
Posted on 30th June 2017 |
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NEW DELHI: The troubles for Anil Ambani's telecom venture -Reliance Communications (RCom) -appear to be compounding. The loss-making company, which had earlier sought deferment in debt servicing obligations from banks, has approached the telecom ministry to surrender a part of its spectrum holdings in the 1,800-MHz frequency, sources said. The company has also sought a refund of some of the payments, which have been made, the sources added. |
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Reliance Communication jumps over 6% on monetisation of realty assets
Posted on 22nd June 2017 |
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Shares of Reliance Communications today surged over 6 per cent after the company said it has started the process to monetise its real estate assets in Delhi and Mumbai as part of efforts to pare debt. The stock, after a positive opening, gained 5.82 per cent to Rs 20.90 on the BSE. On the NSE, it went up by 6.34 per cent to Rs 20.95. |
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R-Com realty sale drive
Posted on 21st June 2017 |
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Mumbai, June 20: Reliance Communications (R-Com) has started monetising its real estate assets in New Delhi and Navi Mumbai, a move that could bring down its debt by Rs 8,000-10,000 crore. The Anil Ambani-company is already in the process of reducing its debt by Rs 25,000 crore from two transactions - the merger of its wireless business with Aircel and a 51-per-cent stake sale in its tower assets to Brookfield Infrastructure of Canada. |
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Reliance Communications invites offers to sell 133-acre IT park in Navi Mumbai
Posted on 20th June 2017 |
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Mumbai: Reliance Communications Ltd, part of Anil Ambani-led Reliance Group, has invited offers to sell or jointly develop 133-acre Dhirubhai Ambani Knowledge Centre (DAKC) located in Navi Mumbai. DAKC, an information technology (IT) park, has a development potential of 13 million sq.ft, including a captive residential area. So far, around 2 million sq.ft has been developed, as per a newspaper advertisement by the company. |
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