Reliance

February 7th, 2018 10:55 AM 31 COMMENTS

Trai Warns RCom as the Telco Trying to Run Away With Customers Unspent Balances

Telecom regulator (Trai) has given a warning to Reliance Communications (RCom) for trying to 'pocket' the unspent balances of prepaid users and security deposits of postpaid customers. RCom was directed to refund the said amount to respective customers maximum by February 15 via three mechanisms, but the company refused and sent a white paper to Trai explaining the same. After shutting wireless operations, a telco needs to refund all the... Read More

January 29th, 2018 9:46 PM 22 COMMENTS

Exit From Wireless Business Helped RCom Lower Net Loss to Rs 130 Crore in Q3

Anil Ambani-led ailing telco Reliance Communications (RCom) said that its net loss has come down sharply by over 95% to Rs 130 crore in the third quarter ended December 31, 2017, largely helped by the planned exit from consumer business which comprised wireless, direct to home and PCO. The telco had reported Rs 2,712 crore net loss in the second quarter of the ongoing fiscal. During the quarter, RCom had... Read More

January 19th, 2018 2:24 PM 17 COMMENTS

Trai Directs RCom to Refund the Unspent Balance of Prepaid and Postpaid Users by February 15

The Telecom Regulatory Authority of India (Trai) today directed Reliance Communications (RCom) to refund the unspent balance of prepaid mobile subscribers and security deposit of postpaid subscribers pursuant to the closure of 2G GSM, CDMA and discontinuation of voice services in all the licensed services areas. RCom closed its 2G services in eight circles and CDMA services in nine circles. Right after the closure of 2G GSM and CDMA service,... Read More

January 10th, 2018 9:43 PM 19 COMMENTS

Reliance Jio and Airtel Eye RCom’s Unsold 850 Mhz Spectrum: Report

After acquiring most of Reliance Communications' spectrum along with fiber and tower assets, Mukesh Ambani-led Reliance Jio Infocomm is reportedly targeting the Anil Ambani-led telco's remaining unsold airwaves in the 850 MHz band. Bharti Airtel, however, is also eyeing RCom's spectrum in the 850-Mhz band, which is considered suitable band for 4G services, according to a report by the Economic Times. The Sunil Mittal-led telco may look at combining this... Read More

January 6th, 2018 5:16 PM 0 COMMENTS

RCom’s Biggest Foreign Lender CDB Withdraws Insolvency Petition

Reliance Communications' biggest foreign lender China Development Bank (CDB) has withdrawn a petition seeking to drag the debt-ridden telco into insolvency, following the Anil Ambani-led telco's deal with Reliance Jio to sell various assets, including spectrum, a fiber-optic network, and towers among others. However, Swedish telecom gear maker Ericsson is continuing its fight against RCom to recover Rs 1,150 crore dues. China Development Bank is a secured lender accounting for... Read More

January 3rd, 2018 4:06 PM 21 COMMENTS

RCom 2G Customers Can Now Port Out to Other Networks Till January 31 as Trai Extends Deadline

Telecom regulator Trai (Telecom Regulatory Authority of India) today announced that RCom 2G subscribers can now port out from the network to another network until January 31, 2018. Earlier today, Trai asked RCom not to kill the 'Unique Porting Codes' until January 31. The porting codes were supposed to expire on December 31, 2017. To recall, Reliance Communications led by Anil Ambani, a couple of months ago announced the shutdown... Read More

December 26th, 2017 7:12 PM 1 COMMENTS

RCom Exits SDR Framework; Says Asset Monetisation to Reduce Debt by 85%

Reliance Communications (RCom)said that it has exited Reserve Bank of India’s strategic debt restructuring (SDR) framework with zero equity conversion and zero loan write-offs for lenders and bondholders, and it is along with its lenders is now monetising valuable assets which will help it to reduce debt to Rs 6000 crore or 85% of the total debt. "I am delighted with the comprehensive resolution for the benefit of all stakeholders... Read More

December 22nd, 2017 4:58 PM 18 COMMENTS

Reliance Jio Emerged as Front-Runner to Acquire Spectrum, Tower Assets of RCom: Reports

Mukesh Ambani-led 4G entrant Reliance Jio Infocomm has reportedly emerged the front-runner to acquire the assets of Anil Ambani-led Reliance Communications (RCom), including the ailing telco's spectrum assets in the 850 MHz and 2100 MHz band. Bharti Airtel and Vodafone have already shown interest in RCom's spectrum in the 900 MHz band. “RJio is leading the talks to acquire all assets RCom intends to sell, while a number of Private... Read More

December 6th, 2017 7:14 PM 4 COMMENTS

Two Major Chinese Lenders to Support China Development Bank’s Insolvency Plea Against RCom

Reliance Communications' two other major Chinese lenders -- Industrial and Commercial Bank of China (ICBC), the country's biggest-listed lender by assets, and Export-Import Bank of China, plan to back China Development Bank's recent move to take the Anil Ambani-led telco into insolvency court to recover about $2 billion in debt. The development comes just after Fitch Ratings said that it has withdrawn India-based Reliance Communications' for commercial reasons, and said... Read More

December 1st, 2017 6:31 PM 41 COMMENTS

Airtel, Vodafone Looking to Acquire RCom’s Spectrum in 2100 MHz and 900 MHz Band: Report

India's top two telecom operators Bharti Airtel and Vodafone India are now eyeing debt-ridden Reliance Communications' spectrum in the 2100 MHz band in 13 circles that will expire in 2030. These circles are Delhi, Mumbai, Kolkata, Punjab, Madhya Pradesh, Bihar, Assam, Northeast, Himachal Pradesh, J&K, Orissa, West Bengal and Rajasthan. Both the telcos are looking to enhance their spectrum holdings in these circles some of which are key markets in... Read More

November 30th, 2017 7:23 PM 2 COMMENTS

Majority of Foreign, Indian Lenders Have Opposed China Development Bank’s Insolvency Plea: RCom

Debt-ridden Reliance Communications (RCom) said that a majority of its foreign and Indian lenders had opposed China Development Bank’s insolvency filing to recover its $1.78 billion. In a statement, the Anil Ambani-led telecom operator said, "At a committee of creditors meeting on 29 November 2017, a majority of Reliance Communications’ lenders, foreign and Indian, aggregating 31, decided to oppose China Development Bank’s (CDB) insolvency petition against RCOM before the National... Read More

November 28th, 2017 11:00 AM 78 COMMENTS

Reliance Jio May Buy RCom’s Spectrum in Seven Key Markets to Bolster 850MHz Holdings: Report

Reliance Jio, the Mukesh Ambani-led 4G entrant, would look at buying RCom's 4G spectrum in the 850 MHz band in seven key markets, which the latter has recently received after the successful merger with Sistema Shyam Teleservices (SSTL). However, Jio could only buy these airwaves if the Indian government gives approval to the Trai's recent recommendation for easing spectrum caps. RCom and Jio had earlier signed spectrum trading and sharing... Read More

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