rcom

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Reliance Communications' biggest foreign lender China Development Bank (CDB) has withdrawn a petition seeking to drag the debt-ridden telco into insolvency, following the Anil Ambani-led telco's deal with Reliance Jio to sell various assets,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 30th, 2017 12:01 PM 0 COMMENTS

Acquisition of RCom Assets to Help Reliance Jio’s FTTH and Enterprise Services: Moody’s

Reliance Jio Infocomm's acquisition of Reliance Communications' assets, including spectrum, optical fiber network, and media convergence nodes, is set to help the Mukesh Ambani-led 4G entrant for a large scale roll-out of its wireless and fiber-to-the-home (FTTH) and enterprise services, Moody's said in a statement. As part of the transaction, Jio will acquire 122.4 MHz of 4G spectrum, 43,000 towers, 178,000 route kilometer of pan India optical fiber network and... 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

November 3rd, 2017 7:02 AM 17 COMMENTS

RCom to Significantly Scale Down Operations Due to Intense Competition: Fitch

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 mobile virtual network operator after selling its spectrum assets, following its move to call off a plan to merge its... Read More

November 2nd, 2017 7:10 PM 49 COMMENTS

Trai Asks RCom And RTL To Issue Unique Porting Codes To Users in Shillong, Kerala

Reliance Communications and its unit Reliance Telecom were given an order by the Telecom Regulatory of India on Wednesday to issue and communicate unique porting codes immediately via SMS to users in Shillong and Kerala areas where 2G services have been shut down. These unique porting codes allow a user to switch to another mobile carrier through the Mobile Number Portability (MNP) reports The Economic Times. Trai sent our separate... Read More

October 30th, 2017 8:44 PM 29 COMMENTS

RCom Launches Comprehensive Debt Resolution Plan, Comes Up With New B2B Strategy

Anil Ambani-led Reliance Communications (RCom) on Monday has come up with a comprehensive debt resolution plan to its domestic and foreign Lenders. Under the plan, the telco said that it would pay off up to Rs. 17,000 crore of its debt, out of the proceeds of monetization of Spectrum, Towers and Fiber and MCN (Media Convergence Nodes) assets. RCom will pay additional Rs. 10,000 Crore of its debt, out of... Read More

August 13th, 2017 12:08 PM 27 COMMENTS

RCom Reports Rs 1,210 Crore Consolidated Loss, Says Aircel Merger on Track

Anil Ambani-led Reliance Communications has reported a third straight quarter consolidated loss of Rs 1,210 crore in the three-month period ended June 30, 2017, as compared to net profit of Rs 54 crore in a year earlier period, impacted by disruptive pricing and unprecedented competitive intensity in the country. The debt-laden company said that the telecom sector in India continues to be very adversely impacted during the financial year 2017-18... Read More

June 30th, 2017 5:38 PM 29 COMMENTS

RCom Approaches Telecom Ministry to Surrender 1800 Spectrum in Four Circles: Report

Reliance Communications (RCom), the ailing private telecom operator, has reportedly approached the telecom ministry to surrender a part of its spectrum holdings in the 1,800-MHz frequency in four circles Mumbai, Karnataka, Haryana, and Punjab and has been purchased. The telco had bought 0.6 MHz spectrum in Mumbai for around Rs 160 crore, Karnataka for Rs 108 crore, Punjab for Rs 42 crore and Haryana for Rs 27 crore. According to... Read More

June 14th, 2017 8:19 PM 2 COMMENTS

Union Cabinet to Consider RCom’s Tower Deal With Brookfield Worth Rs 11,000 Crore: Report

The Cabinet will next week consider RCom’s deal with Brookfield Infrastructure Partners for the divestment of the former’s tower business in India, according to media reports. Canada-based Brookfield has proposed to buy 51% interest in Reliance Infratel worth Rs 11,000 crore. The deal is a part of RCom’s transformation strategy which aims to reduce its net debt that stands at Rs 45000 crore. The Cabinet’s nod will pave the way... Read More

June 2nd, 2017 8:54 PM 11 COMMENTS

RCom to Get Time Till December to Reduce Rs 25000 Crore Debt From Aircel and Brookfield Deals

Anil Ambani-led Reliance Communications said that its lenders have on Friday constituted a Joint Lenders' Forum (JLF) to consider giving the telco time of 7 months until December 2017 to complete the strategic transactions with Aircel and Brookfield that will immediately reduce debt from Rs 45,000 crore to around Rs 20,000 crore, a reduction of 60% or Rs 25,000 crore. The company has reportedly fallen behind on its loan servicing... Read More

June 2nd, 2017 8:06 PM 11 COMMENTS

Bad Days Ahead for RCom? Moody’s & Fitch Downgrade RCom, Say Default a Possibility

Moody’s and Fitch have downgraded Anil Ambani-led telco Reliance Communications Limited's (RCOM) rating following full year net loss of Rs 1,285 crore and 11% decline in revenues. Moody's Investors Service has downgraded Reliance Communications Limited's (RCOM) corporate family rating and senior secured bond rating to Caa1 from B2. Fitch Ratings has downgraded RCom’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to 'CCC' from 'B+'. The agency has also downgraded... Read More

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