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Reliance Communications‘ biggest foreign lender China Development Bank (CDB) has withdrawn a petition seeking to drag the debt-ridden telco into insolvency, following the Anil Ambani-led telco’s deal with Reliance Jio to sell various assets,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