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 … Read More
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 … Read More
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 … Read More
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 … Read More
Reliance Communications‘ biggest foreign lender China Development Bank (CDB) has withdrawn a petition seeking to drag the debt-ridden telco into insolvency, following the Anil Ambani-led telco’s deal with Reliance Jio to sell various assets,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 … Read More
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 … Read More
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 … Read More
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 … Read More
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. … Read More
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. … Read More
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’ … Read More
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 … Read More
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