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
China Development Bank (CDB), a lender to Reliance Communications (RCom), has filed an insolvency case against the ailing telecom service provider, following a similar case filed by Swedish telecom gear maker Ericsson. RCom owes about Rs 7,500 crore to China Development Bank, but the amount has increased to Rs 9000 … Read More
Telecom Regulatory Authority of India (Trai) has asked Reliance Communications (RCom) to share the prepaid balance details of prepaid users who moved out of the network. To recall, RCom recently closed its 2G GSM and CDMA services in eight circles and nine circles respectively and upgraded those circles to 4G … Read More
Integrated telecommunications service provider RCom- Global Cloud Xchange (GCX) today announced that it has sent a ‘Cease & Desist’ notice and/or injunction to a number of competitors in India, after learning from its Enterprise customers that these competitors are carrying out an illegal and malicious campaign, spreading misinformation and wrongly … Read More
Responding to a petition filed by Manipal Technologies, the National Company Law Appellate Tribunal (NCLAT) has issued a fresh notice to Anil Ambani-led Reliance Communications (RCom). Manipal Technologies had sought dues of about Rs 2.74 crore from the ailing telco for supplying biometric fingerprint scanners to RCom in 2016 Reports … Read More
Ailing telecom service provider Reliance Communications’ (RCom) consolidated loss widened to Rs 2709 crore for the quarter that ended on September 30 from Rs 1210 crore in the previous quarter. Notably, the Anil Ambani-led telco had posted a profit of Rs 62 crore during the same period last year. RCom’s … Read More
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