2G scam: Unitech, RCom wipe out 97% shareholder wealth in 10 years

While Unitech has slipped 97% from Rs 257 on August 01 2007 to Rs 7 levels now, RCom slipped from Rs 530 levels back then to around Rs 17 levels now. By comparison, the Sensex has gained around 126%

Shares of Sanjay Chandra-controlled Unitech and Anil Ambani-owned Reliance Communications (RCom) along with Tata Teleservices (Maharashtra) – accused in the Rs 1.76-lakh crore 2G spectrum allocation scam – have not been able to regain lost glory since August 2007, when the government (Department of Telecom) initiated the process of allotment of 2G spectrum along with Unified Access Services (UAS) licences.

While Unitech has slipped 97% from Rs 257 on August 01 2007 to Rs 7 levels now, RCom has tanked from Rs 530 levels back then to around Rs 17 levels now. By comparison, the S&P BSE Sensex has gained