Page 11 - Reliance Communications

Veecon Media & Television: Newborn biz

The firm entered the media business in May after alterations in the objectives of its erstwhile avatar

RCom to shut voice calls from Dec 1, users can port to others till Dec 31

RCom, reeling under debt of around Rs 46,000 crore, decided to shut down its voice call services after it failed to close its wireless business merger deal with Aircel in the beginning of this month

RCom faces coupon test amid standstill, to shut voice calls from Dec 1

$300 mn of bonds on which the firm must pay semi-annual coupon on Monday mature in 2020

Anil Ambani's RCom, GCX ratings unaffected by debt restructuring: Fitch

Rcom said it has made a comprehensive 'debt resolution plan to its domestic and foreign lenders'

RCom shares fall 5% as the company plans to shut down 2G operations

After a weak opening, shares of the company further lost 4.55 per cent to Rs 15.70 - 52-week low - on BSE.

4G strategy involves spectrum sharing, intracircle roaming with Jio: RCom

RCom will be 'optimising' its 2G and 3G footprint, and related infrastructure and human resources, with effect from 30th Nov

RCom to shut down DTH business next month

RCom earlier tried to sell the company to rivals including the Sun group but later backed out citing low valuation

Ericsson deal nears end: RCom to take back 4,000 staff

RCom will re-absorb the employees who had been sent to Ericsson, sources confirmed

Plan to demerge towers withdrawn: RCom to NCLT

Application for withdrawal of the said merger scheme has been filed with NCLT on 3rd Oct

High debt to limit RCom's ability to buyback spectrum in 2021 auction: CLSA

Telecom gear maker Ericsson has filed insolvency case against the Anil Ambani led mobile services firm

Time running out for Reliance Communications

Reliance Communications (RCom) is staring at a tough future as its multi-stage debt reduction plan has hit a hurdle. The key to reducing its ~45,000-crore debt was the alliance with Aircel, which involved the merger of their mobile businesses, and second, the tower deal. While the merger included transfer of ~14,000 crore of RCom's debt to the new entity, the tower deal would have fetched ~11,000 crore (for 51 per cent stake), collectively knocking off ~25,000 crore of debt.The merger is clearly not happening, points out RCom's press release, due to "inordinate delays caused by regulatory uncertainties, changed industry dynamics, intervention by vested interests and policy directives impacting bank financing for telecom". Ericsson India had filed an insolvency case against RCom with the National Company Law Tribunal to recover dues worth ~1,154 crore. The pressure to cut debt is more than ever before, as the deadline set by lenders to make interest and loan repayments expires by the ..

RCom calls off merger with Aircel due to legal, regulatory uncertainties

Cites legal hurdles and various interventions by vested interests as the reasons

RCom shares, bonds fall after Ericsson's insolvency petition

Ericsson is seeking a total of Rs 1,155 crore from the company and two of its subsidiaries

RCom to challenge Ericsson's insolvency petition

The Swedish telecoms equipment maker is seeking Rs 1,155 cr as dues

Reliance Communications rallies 19% on back of heavy volumes

Thus far in 2017, the stock tanked 29% against 17% rise in Sensex till Friday, August 11.

Reliance Comm posts consolidated loss of Rs 1,210 cr in June quarter

The company attributed a loss of Rs 1,221 crore to equity holders of the company

Reliance Communications clears barrier in Sistema merger

The department of telecommunications is expected to give a final green signal

RCom seeks relaxation in cross-holding norms

The new rules were put in place to promote healthy competition and end the possibility of cartels

PE investors okay RCom tower deal

New Delhi, 22 June The deal by Anil Ambani-owned Reliance Communications to sell its tower assets to Canada's Brookfield Infrastructure is set for quick closure as private equity (PE) investors and hedge fund managers have given their approval to the transaction.The ~11,000-crore deal, which was announced in December, has received almost all approvals. According to sources, PE investors, including NSR Partners, HSBC Daisy Investments (Mauritius), George Soros Quantum Funds, Galleon & Drawbridge Towers, and hedge fund managers have given their approvals to Reliance Communications for the deal. The approvals pave the way for quick closure of the tower deal.PE investors and hedge fund managers hold a 4.26 per cent stake in Reliance Communications' tower arm Reliance Infratel. The tower arm stake sale will bring down Reliance Communications' debt by ~11,000 crore. When contacted, Reliance Communications declined to comment on the development.The deal has received approvals from the ...

RCom shares jump over 6% as it starts monetisation of realty assets

RCom, which is saddled with Rs 45k cr of debt, has got a 7-month reprieve from banks to service it