Page 9 - Reliance Communications

RCom to shut down DTH business next month

RCom earlier tried to sell the company to rivals including the Sun group but later backed out citing low valuation

Ericsson deal nears end: RCom to take back 4,000 staff

RCom will re-absorb the employees who had been sent to Ericsson, sources confirmed

Plan to demerge towers withdrawn: RCom to NCLT

Application for withdrawal of the said merger scheme has been filed with NCLT on 3rd Oct

High debt to limit RCom's ability to buyback spectrum in 2021 auction: CLSA

Telecom gear maker Ericsson has filed insolvency case against the Anil Ambani led mobile services firm

Time running out for Reliance Communications

Reliance Communications (RCom) is staring at a tough future as its multi-stage debt reduction plan has hit a hurdle. The key to reducing its ~45,000-crore debt was the alliance with Aircel, which involved the merger of their mobile businesses, and second, the tower deal. While the merger included transfer of ~14,000 crore of RCom's debt to the new entity, the tower deal would have fetched ~11,000 crore (for 51 per cent stake), collectively knocking off ~25,000 crore of debt.The merger is clearly not happening, points out RCom's press release, due to "inordinate delays caused by regulatory uncertainties, changed industry dynamics, intervention by vested interests and policy directives impacting bank financing for telecom". Ericsson India had filed an insolvency case against RCom with the National Company Law Tribunal to recover dues worth ~1,154 crore. The pressure to cut debt is more than ever before, as the deadline set by lenders to make interest and loan repayments expires by the ..

RCom calls off merger with Aircel due to legal, regulatory uncertainties

Cites legal hurdles and various interventions by vested interests as the reasons

RCom shares, bonds fall after Ericsson's insolvency petition

Ericsson is seeking a total of Rs 1,155 crore from the company and two of its subsidiaries

RCom to challenge Ericsson's insolvency petition

The Swedish telecoms equipment maker is seeking Rs 1,155 cr as dues

Reliance Communications rallies 19% on back of heavy volumes

Thus far in 2017, the stock tanked 29% against 17% rise in Sensex till Friday, August 11.

Reliance Comm posts consolidated loss of Rs 1,210 cr in June quarter

The company attributed a loss of Rs 1,221 crore to equity holders of the company

Reliance Communications clears barrier in Sistema merger

The department of telecommunications is expected to give a final green signal

RCom seeks relaxation in cross-holding norms

The new rules were put in place to promote healthy competition and end the possibility of cartels

PE investors okay RCom tower deal

New Delhi, 22 June The deal by Anil Ambani-owned Reliance Communications to sell its tower assets to Canada's Brookfield Infrastructure is set for quick closure as private equity (PE) investors and hedge fund managers have given their approval to the transaction.The ~11,000-crore deal, which was announced in December, has received almost all approvals. According to sources, PE investors, including NSR Partners, HSBC Daisy Investments (Mauritius), George Soros Quantum Funds, Galleon & Drawbridge Towers, and hedge fund managers have given their approvals to Reliance Communications for the deal. The approvals pave the way for quick closure of the tower deal.PE investors and hedge fund managers hold a 4.26 per cent stake in Reliance Communications' tower arm Reliance Infratel. The tower arm stake sale will bring down Reliance Communications' debt by ~11,000 crore. When contacted, Reliance Communications declined to comment on the development.The deal has received approvals from the ...

RCom shares jump over 6% as it starts monetisation of realty assets

RCom, which is saddled with Rs 45k cr of debt, has got a 7-month reprieve from banks to service it

RCom-Brookfield's Rs 11k-cr tower deal to be taken up by Cabinet soon

Anil Ambani-owned Reliance Communications (RCom)'s Rs 11,000 crore deal to sell its tower business to Canada's Brookfield Infrastructure is nearing closure and is likely to be taken up by the Union Cabinet in the next couple of weeks. RCom had in December 2016 announced signing of the binding agreement with Brookfield and sources said it has got almost all approvals for the said transaction including that from CCI, Sebi, NSE, BSE, corporate registration and shareholders. A source further said that only approvals left are that of National Company Law Tribunal (NCLT), which is likely to be heard on June 28 and lenders, for which the formal consent process will start in last week of June.As the government has scrapped FIPB and all investment proposals above Rs 5,000 crore are to be heard by the Union Cabinet, this proposal is likely to be taken up the Cabinet as early as next week, a source said.The source further added, after the completion of the deal, Reliance Infratel will be ...

RCom shares dip after Moody's, Fitch downgrade credit ratings again

The stock hit an intraday low of Rs 19, down 4.2% on the BSE

Pressure on RCom to close asset deals critical to its debt reduction

This comes on the back of debt reprieve it got from lenders a few days ago

Telcos accrue cash deficit of Rs 1.2 lakh cr on price war, high taxes: RCom

Till FY17-end, gross liabilities of telcos due to debt, radiowaves payments stands at Rs 775k cr

RCom gets 7-month breather from banks

Anil Ambani tells investors the firm will get back in shape

RCom gets 7-month reprieve from lenders to pay debt

Chairman Anil Ambani says by year end telco will cut its debt burden by 60%