Page 11 - Reliance Communications

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

RCom-Brookfield's Rs 11k-cr tower deal to be taken up by Cabinet soon

Anil Ambani-owned Reliance Communications (RCom)'s Rs 11,000 crore deal to sell its tower business to Canada's Brookfield Infrastructure is nearing closure and is likely to be taken up by the Union Cabinet in the next couple of weeks. RCom had in December 2016 announced signing of the binding agreement with Brookfield and sources said it has got almost all approvals for the said transaction including that from CCI, Sebi, NSE, BSE, corporate registration and shareholders. A source further said that only approvals left are that of National Company Law Tribunal (NCLT), which is likely to be heard on June 28 and lenders, for which the formal consent process will start in last week of June.As the government has scrapped FIPB and all investment proposals above Rs 5,000 crore are to be heard by the Union Cabinet, this proposal is likely to be taken up the Cabinet as early as next week, a source said.The source further added, after the completion of the deal, Reliance Infratel will be ...

RCom shares dip after Moody's, Fitch downgrade credit ratings again

The stock hit an intraday low of Rs 19, down 4.2% on the BSE

Pressure on RCom to close asset deals critical to its debt reduction

This comes on the back of debt reprieve it got from lenders a few days ago

Telcos accrue cash deficit of Rs 1.2 lakh cr on price war, high taxes: RCom

Till FY17-end, gross liabilities of telcos due to debt, radiowaves payments stands at Rs 775k cr

RCom gets 7-month breather from banks

Anil Ambani tells investors the firm will get back in shape

RCom gets 7-month reprieve from lenders to pay debt

Chairman Anil Ambani says by year end telco will cut its debt burden by 60%

RCom to complete deals by September to raise cash: Anil Ambani

Telecom industry may see up to 40,000 job losses this year, says CFO Puneet Garg

RCom shares trade flat ahead of Anil Ambani's media address

The stock has fallen 20% by Thursday's closing since the company reported loss of Rs 948 crore in Q4

Banks may seek forensic audit of RCom books, stock meltdown worries lenders

RCom has been downgraded by almost all rating agencies

RCom woes: Pain from telecom wars extends beyond Ambani sibling spat

Most of all India's mobile operators posted a loss in the first quarter

RCom assures lenders that it will reduce its Rs 25,000 cr debt by Sept 30

RCom's net debt stood at a whopping Rs 44,345 crore as on March 31 this year

RCom slips 15% to its all time low on poor Q4 and debt woes

The scrip of the company has fallen around 35% in May

Reliance Communications under bear attack, stock down 21% in two weeks

Reliance Communication (RCom), part of the Anil Ambani group, is under renewed pressure on Dalal Street over its financial health.The stock is down 21 per cent in two weeks on the BSE exchange, after credit downgrades by domestic rating agencies. In the period, the Bharti Airtel stock price was flat (up one per cent), while Idea Cellular was down 13 per cent; the benchmark Sensex was up 1.7 per cent.Early this week, CARE downgraded RCom from the earlier A- to BB. And, said it would be on a credit watch, citing the operational risk in view of the growing pricing pressure in the sector. The agency says the high debt level at RCom, coupled with lower cash accrual and imminent repayment obligations, had increased the financial risk.This followed a similar downgrade by rating agency ICRA early this month. It had downgraded the long-term rating to BB, from BBB, and reaffirmed its earlier negative outlook. ICRA said the revision took into account the persisting pressures and weakening ...