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RCom to monetise enterprise, global undersea cable businesses: Anil Ambani
Posted on 18th September 2018
NEW DELHI: Reliance Communications’ (RCom) Chairman Anil Ambani said that the debt saddled operator has complete backing of its global and Indian lenders in its asset monetisation plan and will monetise its enterprise and GCX businesses.

The operator’ asset monetisation deal is with Reliance Jio for fibre, spectrum, MCN, tower and some of its land parcels will go to Canadian asset management firm Brookfield for a total of about Rs 18,000 crore.

RCom requests DoT to quickly reply to tribunal on SUC issue
Posted on 6th September 2018
NEW DELHI: Reliance Communications (RCom) is pushing the department of telecommunications (DoT) to expedite its response to the telecom tribunal on the Spectrum Usage Charge (SUC) demand the financially stressed telco has disputed, people familiar with the matter said.

Reliance Communications moves TDSAT against DoT demand
Posted on 29th August 2018
Reliance Communications (RCom) has moved the telecom tribunal against the telecom department’s demand for spectrum usage charges (SUC) of about Rs 3,000 crore, a move which could be the start of a lengthy legal battle that could further delay the company’s spectrum sale to Reliance Jio Infocomm and repayment to lenders.

R-Com sells optical fibre assets to Jio
Posted on 28th August 2018
Mumbai: Anil Ambani-led Reliance Communications (R-Com) on Monday said it had completed the planned sale of its optical fibre assets worth Rs 3,000 crore to Mukesh Ambani-backed Reliance Jio Infocomm (R-Jio).

The announcement marks the wrapping-up of yet another portion of a larger deal inked between R-Com and Reliance Jio in December last year that involved the sale of wireless spectrum, tower, fibre and media convergence nodes.

Reliance Communications completes sale of fibre assets to Reliance Jio for Rs 3,000 crore
Posted on 27th August 2018
Reliance Communications (RJIO) today said it has completed the sale of its fibre assets and related infrastructure assets, worth Rs 3,000 crore, to Mukesh Ambani-backed Reliance Jio Infocomm (RJIO).

“With successful completion of the fibre monetisation transaction, 1,78,000 kilometers fibre stand transferred to RJIO,” Reliance Communications said in a BSE filing.

RCom gets relief from overseas bondholders; plan cleared for a 42% haircut
Posted on 25th August 2018
In a development that takes it closer to averting bankruptcy proceedings, Reliance Communications (RCom) has secured approval of its overseas bondholders for the revised terms. The Anil Ambani-owned company had defaulted on a $300-million bond last year.

In a meeting held in London on Friday, over 83 per cent of those holding the bonds, now due in 2020, cleared the plan.

RCom completes sale of some assets to Reliance Jio for Rs 20 billion
Posted on 23rd August 2018
Reliance Communications on Thursday said it has completed the planned sale of its media convergence nodes (MCNs) and related infrastructure assets, worth Rs 20 billion, to Mukesh Ambani-backed Reliance Jio Infocomm (RJIO).

The transaction entailed 248 nodes covering close to 5 million sq. ft. of the area, used for hosting the telecom infrastructure, all of which now stands transferred to Jio, RCom said in a statement.

Spectrum price: RCom gets relief from Supreme Court
Posted on 18th August 2018
The Supreme Court on Friday stayed a telecom tribunal order asking Reliance Communications to pay the difference between the price for spectrum in the 800 MHz band in 2013 and its auction price in 2015, as the company is in the process of selling part of its spectrum to Reliance Jio Infocomm.

RCom reinstates bank guarantees worth Rs 774 cr with telecom department
Posted on 13th August 2018
New Delhi: Reliance Communications (RCom) on Monday said it has reinstated bank guarantees worth Rs 774 crore with the telecom department, much ahead of the timelines set by the telecom tribunal.

The move not only staves off a looming crisis that the company had faced after the telecom department's show-cause notice to it on spectrum and licence cancellation, but clears the way for the asset monetisation plan of the debt-ridden company.

Reliance Communications, Ericsson reach USD 80 million settlement
Posted on 6th August 2018
Reliance Communications Ltd (RCom) said on Monday it had received approval from the Supreme Court to proceed with the sale of its wireless assets to Reliance Jio after it agreed to pay 5.5 billion rupees (USD 80.06 million) to settle dues with Swedish telecom gearmaker Ericsson.

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