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RCom arm Global Cloud Xchange announces completion of India data centre for Eagle cable network
Posted on 19th June 2018
Reliance Communications (RCom) subsidiary Global Cloud Xchange (GCX) on Tuesday announced the completion of India data centre for Eagle Subsea Network, scheduled to be fully operational by 2020.

The Eagle express cable system, when it lands in Mumbai, will drive tremendous capacity towards Hong Kong and Europe.

RCom, Ericsson agree on settlement; green signal for Reliance Jio deal
Posted on 31st May 2018
The National Company Law Appellate Tribunal (NCLAT) stayed the May 15 order of the National Company Law Tribunal (NCLT) in Mumbai, which had admitted Reliance Communications (RCom) and two of its subsidiaries for insolvency proceedings.

The NCLAT asked the Anil Ambani-controlled firm to pay Ericsson Rs 5.5 billion by the end of September.

RCom out of woods? Shares zoom 9% as arm Infratel settles with minority shareholders; Ericsson next
Posted on 29th May 2018
Shares of Reliance Communications zoomed by more than 9% on Tuesday, after the Anil Ambani-run company announced that its subsidiary Reliance Infratel reached a settlement with its minority investors, and the company also reportedly agreed to pay up Rs 500 crore to Ericsson.

RCom surges 11% after NCLAT fixes hearing against NCLT order for Tuesday
Posted on 28th May 2018
Shares of Reliance Communications (RCom) have moved higher by 11% to Rs 15.85 per share on the BSE in noon deal after the company said that the National Company Law Appellate Tribunal (NCLAT) fixed the appeals against the National Company Law Tribunal (NCLT) orders for hearing tomorrow i.e. Tuesday, May 29, 2018.

Ericsson rejects 2 settlement proposals offered by RCom
Posted on 26th May 2018
MUMBAI | NEW DELHI: Negotiations between Reliance Communications and Ericsson for a settlement have hit a stalemate with the Swedish telecom equipment maker rejecting two proposals of the Anil Ambani owned operator.

According to people familiar with the development, RCom had offered either a payment guarantee by an Anil Ambani-controlled company or an undertaking by the directors of the telco and its two units — Reliance Infratel and Reliance Telecom — that the Swedish equipment maker would be paid within 15 days if it withdraws its insolvency petition.

Posted on 23rd May 2018
Reliance Communications on Tuesday said it has moved appellate tribunal NCLAT challenging the National Company Law Tribunal (NCLT) decision on beginning insolvency proceedings against it on a plea filed by Swedish telecom equipment major Ericsson.

Anil Ambani-run RCom's plea is expected to be heard by the National Company Law Appellate Tribunal (NCLAT) in the coming week.

Anil Ambani’s ADAG shares rally! RCom share price gains 20%, RNaval jumps 17%
Posted on 22nd May 2018
Shares of Anil Ambani’s ADAG (Anil Dhirubhai Ambani Group) rallied in the afternoon deals on Tuesday with the share price of telecommunication company Reliance Communications (RCom) gaining nearly 20% after the latter moved to NCLAT to challenge the stay order of NCLT in connection with the settlement with Swedish telecom equipment manufacturer Ericsson. Meanwhile, shares of Reliance Naval and Engineering (RNaval) also jumped more than 17%.

RCom-RJio deal: Arun Jaitley’s IBC clause stands between Ambani brothers if RCom goes into insolvency
Posted on 21st May 2018
Anil Ambani’s Reliance Communications share price skyrocketed 65% on last Thursday on media reports that the company was mulling out-of-court settlement with Swedish communications firm Ericsson. But RCom stock pared the gains on Friday when a Reuters report said that the settlement deal looked unlikely. Subsequently, RCom shares tumbled 9.37% intraday to Rs 15.

Insolvency: RCom, Ericsson India likely to settle dispute outside NCLT
Posted on 18th May 2018
Even as the National Company Law Tribunal (NCLT) has admitted the petition for insolvency, Reliance Communications (RCom) is in talks with Ericsson India for a settlement of the dispute to pay Rs 11.5 billion to the latter, said sources.

RCom in its reply to queries from the stock exchanges on the possible settlement with Ericsson said, “Appropriate disclosures will be made in accordance with applicable regulations, as and when any disclosable event occurs.”

Insolvency call hits R-Com
Posted on 17th May 2018
New Delhi: Shares of Reliance Communications (R-Com) plunged nearly 16 per cent a day after the NCLT admitted an insolvency petition filed by Ericsson against the company and two of its subsidiaries.

The stock fell sharply by 15.26 per cent to end at Rs 10.55 on the BSE. Intra-day, it dropped 20 per cent to Rs 9.95.

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