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
Reliance Communications has allotted 10% or 27.65 crore shares worth Rs 415 crore to Sistema Shyam Teleservices, which resulted in a decline of 5.92% points to 53.08% in RCom’s promoter group shareholding, the Anil Ambani-led telco said in a latest regulatory filing. The RCom-SSTL merger was finally approved by the … Read More
Reliance Jio, the Mukesh Ambani-led 4G telco is reportedly planning to buy Anil Ambani-led Reliance Communications’ tower unit and Indian fiber assets. Besides Jio, a number of companies, including Indus Towers, ATC, Bharti Infratel, Brookfield Infrastructure, Sistema JSFC, Tillman Global Holdings, TPG Capital, Carlyle Group, I-Squared Capital and Gateway Partners … Read More
Brookfield Infrastructure, one of the largest telecom asset management company has called off its agreement with the Anil Ambani-led telecom operator Reliance Communications. The deal was worth $200 million, and the reason behind the deal is RCom’s lapsed merger deal with Aircel last month. “The merger will not proceed and … Read More
India’s CDMA story is over, as RCom announced the completion of the acquisition of MTS India network. It seems to be an end of Indian telecom, as the CDMA network of MTS is to be shut down by 30th of November 2017. The lone CDMA survivor is Tata Docomo CDMA, … Read More
Reliance Communications will exit from the wireless voice business, and is expected to scale down its operations due to intense competition significantly, rating firm Fitch Ratings said on Wednesday. Amid reports of operations closure, the Anil Ambani-led telecom operator announced that it will focus on offering 4G services as a … Read More
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