Page 12 - Reliance Communications

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 ...

Post-ICRA downgrade, debt concerns pile pressure on RCom shares

Reliance said it had paid half yearly interest on the 2020 bond and that it had no outstanding dues

R-Com enters data war; offers 70 GB 4G data at Rs 148 in Andhra, Telengana

The said benefits are being offered in Reliance Communications 'super value' tariff plan

Reliance Comunications gets Sebi nod for merger with Aircel

Shares of Reliance Communications were trading at 2.48 per cent higher

Jio effect: Reliance Communications registers Q3 net loss at Rs 531 cr

The company had posted net profit of Rs 303 crore in the same period a year ago

Moody's places RCom' rating on review for downgrade despite Rs 11k cr deal

RCom signed binding agreements to sell 51 per cent stake in its tower business to Canada-based Brookfield Infrastructure

RCom completes tower arm sale to Brookfield Infra for Rs 11,000 cr

Company debt expected to come down from Rs 42,000 cr to Rs 17,000 cr, after wireless & tower deals

RCom strikes Rs 11,000-cr tower deal with Brookfield Infra

RCom will utilise the cash proceeds solely to reduce debt, and will also receive B Class non-voting shares in the tower company