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Sneha Bhardwaj December 31st, 2018 3:17 PM 1 COMMENTS

RCom and Jio Extend the Terms of Agreement for Spectrum Sale

Reliance Communications and Reliance Jio announced Monday that they have extended the terms of an agreement for sale of wireless assets of the Anil Ambani owned firm. The move comes at a time when Reliance Communication's spectrum sale deal has been hanging fire, pending requisite clearance from the telecom department. "Reliance Jio Infocomm Limited, a subsidiary of Reliance Industries Limited, extended the term of the definitive agreement for the acquisition... Read More

Chakri K November 27th, 2018 2:38 PM 11 COMMENTS

RCom and Jio Spectrum Trading Deal in Jeopardy as DoT Refuses to Accept Land Parcel as Security

Reliance Communications (RCom) has remarked that its deal of spectrum trade with Reliance Jio Infocomm will land in jeopardy if the Department of Telecommunications (DoT) does not accept a land parcel instead of bank guarantees as security. DoT, however, is adamant on only receiving bank guarantees worth of Rs 3,000 crore from the telco and has also stated that Reliance Jio can furnish these guarantees on behalf of RCom. This... Read More

Chakri K October 3rd, 2018 6:19 PM 1 COMMENTS

RCom Can Proceed With the Planned Spectrum Sale to Jio After Relief from TDSAT

Reliance Communications (RCom), which yesterday stated that there would be a delay in repayment of Rs 550 crore to Ericsson, today confirmed that it has got relief from the telecom tribunal TDSAT. With this relief, RCom can now complete its planned spectrum sale to Jio and the amount which it will receive from the latter will be used to make payments to Ericsson India and RITL minority investors. RCom confirmed... Read More

Chakri K October 2nd, 2018 9:35 PM 0 COMMENTS

RCom Seeks Another 60 Days for Repayment of Rs 550 Crore to Ericsson Citing Delay in Spectrum Sale

Reliance Communications (RCom), today stated that it requires another 60 days for the repayment of Rs 550 crore to telecom gear maker Ericsson. The Anil Ambani-led company cited the delay in spectrum sale caused the delay in repayment. RCom said that the spectrum sale could not be completed on time due to 'factors beyond its control.' In a statement at BSE, RCom said as "Ericsson India Private Limited ( Ericsson'),... Read More

Chakri K September 26th, 2018 5:15 PM 2 COMMENTS

RCom Looking to Sell Subsea Cables and International Data Centres

Reliance Communications (RCom), which already exited the Indian telecom sector is now looking to sell its remaining businesses. RCom is now looking to sell off its enterprise focused-businesses- subsea cables, international fixed line and data centres businesses. Earlier, RCom exited the wireless businesses due to financial pressures and the company also sold its spectrum to Reliance Jio. Two buyers, including a consortium of four funds, have evinced interest in buying... Read More

Chakri K July 27th, 2018 6:47 PM 1 COMMENTS

SBI Urges DoT to Step Back from Its Decision of Cancelling RCom Licences

The biggest bank of the country, State Bank of India has urged the DoT to rethink its decision of revoking the spectrum of Reliance Communications. SBI Chairman reached out to the Telecommunications department in this regard and said that keeping in mind that a lot of lenders are yet to receive their pending dues from RCom, it would be a naïve move to cancel the company’s licences. The official further... Read More

Arpit Sharma July 23rd, 2018 12:23 PM 2 COMMENTS

RCom Risks Losing License If Bank Guarantees are Not Furnished: DoT

The Department of Telecommunications has asked Anil Ambani-led company Reliance Communications (RCom) to furnish bank guarantees worth Rs 774 crores towards spectrum dues pending next year. The DoT has explicitly said that if the telco fails to do so, then it will risk losing its licenses. It is noteworthy that Reliance Communications had stopped its operations entirely in December 2017 and now seeks to pare its debt of Rs 46,000... Read More

Chakri K July 12th, 2018 8:08 PM 5 COMMENTS

RCom Alleges DoT of Biased Practices For Not Raising Demand from Vodafone India

Reliance Communications has alleged the Department of Telecommunications of unfair and discriminatory practices. The Anil Ambani led telco said that demands for bank guarantees were sought from the telco for the 850Mhz spectrum. However, the same wasn’t done for Vodafone India, another telecom company which is currently under the merger process with Idea Cellular. As per people aware of the matter, the operator has requested the DoT to not resort... Read More

Arpit Sharma June 16th, 2018 2:34 PM 22 COMMENTS

RCom Hands Over Non-Auctioned Spectrum in 1800 Mhz Band to DoT

Reliance Communications (RCom), in a new move, has handed over 70 units of unliberalised or non-auctioned spectrum in the 1800 Mhz band to the Department of Telecommunications (DoT). RCom moved over to this option when the company could not find any buyers for the spectrum and the Anil Ambani led telco wasn’t in the position to spare Rs 1,500 crore which was the requirement for starting up 4G services. A... Read More

Arpit Sharma June 13th, 2018 6:19 PM 30 COMMENTS

RCom Lays off 94% Employees Citing Hyper Competition as Reason for Poor Finances

Reliance Communications, the Anil Ambani led telco which was on the verge of bankruptcy a few days ago has declared that it is in a financial soup and is surrounded by capex troubles, hyper-competition and endless problems as a result of which, it has brought down the count of its employees from 52,000 to 3,400. This number is a massive lay off of 94%. The telco agreed to the statement... Read More

Chakri K May 8th, 2018 9:13 PM 5 COMMENTS

RCom-GCX and PrimeTel Together Upgrade Subsea Cable for Robust Connectivity

Global Cloud Xchange (GCX), a subsidiary of Reliance Communications (RCom), and Cyprus’ leading telecommunication provider PrimeTel today announced further enhancement of their partnership with a 100 Gbps upgrade to GCX’s HAWK subsea cable system branch into Cyprus. This network upgrade will offer robust connectivity solutions and drive new business opportunities across the strategic Europe-Cyprus-Middle East-Asia route. “With the recent upgrade, we have now broadened our reach into PrimeTel’s Cyprus Hub... Read More

Chakri K January 29th, 2018 9:46 PM 22 COMMENTS

Exit From Wireless Business Helped RCom Lower Net Loss to Rs 130 Crore in Q3

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 had reported Rs 2,712 crore net loss in the second quarter of the ongoing fiscal. During the quarter, RCom had... Read More