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With Reliance Communications selling off its DTH business, various private equity firms and telcos are looking to buy the debt-laden firm’s assets and invest in what will be left of the telecom major, which will primarily have only its business-to-business segment.
Business Standard brings you the full coverage of major announcements of Reliance Communication:
Telcos, PE firms show interest in Reliance Communication's assets
Telecom companies and private equity (PE) funds have shown preliminary interest in buying the various assets Reliance Communications is monetising. Airtel has shown interest in buying some of the spectrum, as well as telecom equipment of RCom’s wireless business, up for sale. Reliance Jio, Vodafone and Sistema (which merged its business in RCom) are believed to be the others interested.
According to sources, PE funds are interested in taking a stake if the banks agree to take 51 per cent stake. These include KKR, TPG and Carlyle, besides global telecom entities Telstra of Australia, Telekom Indonesia and PCCW in Hong Kong. (Read full report)
RCom has nine data centres across the country and a thriving enterprise business, with about 35,000 corporate clients. According to estimates, this business currently has revenues of Rs 10,000 crore annually, the operating earnings being Rs 1,500 crore.
RCom reworking tower deal with Brookfield
Sells off DTH business
Reliance Communications (RCom) has signed a memorandum of understanding with Veecon Media and Television Limited for the sale of its subsidiary Reliance BIG TV Limited, which is engaged in direct to home (DTH) services across India. Veecon will acquire the entire shareholding of Reliance Big TV on an ‘as-is where-is’ basis, along with all existing trade liabilities and contingent liabilities. The transaction is in consonance with RCom’s stated objective to focus on core businesses.
Reliance Communications to shut voice calls from Dec 1
Loss-making telecom operator Reliance Communications (RCom) will shut down its voice call service from December 1 and its customers can move to other networks by the end of the year, as per directions issued by the telecom regulator on Friday.