Anil Ambani on Wednesday announced formation of two new companies, Global Fuel Management Services and Reliance Communication Ventures Ltd, under the Anil Dhirubhai Ambani Enterprises umbrella.
Revenue decline has left the operators with little money to service their mostly 3G and partly 4G infrastructure leading to poor data and voice quality.
Anil Ambani group company Reliance Communication Ventures Ltd on Friday decided to offer stake worth up to Rs 4500 crore (Rs 45 billion) to international financial and strategic investors.
Telecom tribunal TDSAT on Monday rejected a contempt application filed by Anil Ambani group company Reliance Communications against Cellular Operators Association of India, for allegedly taking the legal battle on spectrum for a media trial.
Tata Teleservices on Wednesday became the second major CDMA operator, after Reliance Communications, to get GSM radio frequency under the dual technology along with other new telecom players.Tata Teleservices has been given start up 4.4 MHz GSM spectrum in Tamil Nadu along with five new telecom players, company officials said.
As debt piles up, Anil Ambani's ability to see the asset sale plan through will be crucial
The 'turbulent situation' at Newcastle United has forced Reliance Communications to shift focus to English Premier League side Everton, media reports said in London on Sunday.
Anil Ambani group firm Reliance Communications on Monday said news reports that it was acquiring the English Premier League club Newcastle United for an estimated 260 million pounds were false and baseless.
Anil Ambani group firm Reliance Communications denied news reports that it was acquiring the EPL club Newcastle United for an estimated 260 million pounds.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
Anil Ambani, whose flagship company Reliance Communications is in talks with South Africa-based MTN, is looking to buy more than 40 per cent stake in the telecom major, a media report said on Tuesday.
The Financial Times reported that Ambani hopes to be a major shareholder in RCom and MTN after the firms combine in a reverse takeover. Ambani would pay an extra $4 to $5 billion in cash to bring his stake in MTN to his target level of 34.9 per cent, the ceiling beyond which he would be forced to make a general offer for MTN, the newspaper said in an article published in its online edition.
Anil Ambani group firm Reliance Communications on Monday said its consolidated net profit rose by 11.91 per cent to Rs 6,044.93 crore (Rs 60.44 billion) for the year ended March 31, 2009, over the same period last year.
The BJP's nationwide vote share saw its steepest decline in Rajasthan, falling by 9.23% from 2019, resulting in the loss of 11 seats.
Indian mobile operators led by Reliance Communications, BSNL and MTNL on Friday announced a bonanza for their users who are frequent travellers by waiving or nearly eliminating roaming charges.
RCom is set to launch a lifetime connection for Rs 199, the lowest from any service provider in the country.
RIL has been talking to groups including Gionee, Huawei and Xiaomi
Anil Ambani group company Reliance Communications Infrastructure Ltd has moved the Supreme Court seeking to recover more than Rs 58 crore (Rs 580 million) of outstanding loan from a Mukesh Ambani group firm.
Reliance Communications (RCom) has paid Rs 1,651 crore as licence fee to start pan-India GSM operations.
The telecom major has paid over $ 103 million to get the rights for eight years, which include two World Cups, the 20-20 World Cup and the Championship Trophy.
Telecom major Reliance Communications plans to monetise its real estate assets as it looks to pare debt.
Reliance Jio Infocomm is the only company which had in 2010 won a pan-India spectrum for 4G services but is yet to start commercial services.
Bharti Airtel remained the top telecom pick of Indian companies followed by Reliance Communications, according to the latest report by world's leading financial management and advisory company Merril Lynch.
Reliance Communications will invest $60 million in Saudi Arabia to connect the kingdom and other Gulf states with 53 countries around the globe on its fibre optic network and provide value-added services to its network users. \n\n
Asked about his fleet of luxury cars and other references to his lavish lifestyle as the counsel for the banks cross-examined him, the Reliance Communications chief dismissed them as "speculative" media stories.
According to reports, the deal, if successful, could fetch Hutchison as much as $14 billion and would be Asia's largest private equity deal.
Telecom service provider Reliance Communications on Monday introduced two new Classic colour phones with FM radio, aiming to tap a higher market share in this segment.
If good stocks were available at throwaway prices, penny stocks found no takers. For instance, Hari Gundecha faced a strange dilemma. He had made profits, buying into Harig Crankshafts when the stock was quoting at Rs 1.30 a share but he could not exit the stock on Tuesday. The stock had run up to Rs 7.61 a share and was quoting at Rs 4.48 a share on Tuesday.
Foreign institutional investors have been allowed to invest up to Rs 5,400 crore (Rs 54 billion) in Reliance Communications through ADRs or GDRs.
Finance ministry advises banks to invoke personal guarantees of all promoters whose companies have gone to NCLT for debt resolution.
Nokia and Reliance Communications have joined hands to market the Nokia 1255 mobile handset that costs just Rs 1,999. \n
The ransom subsequently kept increasing to Rs 200 crore and Rs 400 crore each time a fresh email was sent.
NCLAT chairman Justice S J Mukhopadhaya dismissed the pleas against Ambani and officials after observing that consent terms agreed upon between RCom and minority shareholders for payment of dues cannot be a ground for initiation of contempt proceedings.
Supreme Court had asked the government to issue RCom a NoC for spectrum sale to Reliance Jio Infocomm by December 9 if it furnishes a corporate guarantee of Rs 1,400 crore
Even as lenders are getting ready to send more companies to bankruptcy courts from this week, several old cases are still awaiting resolution with no clarity on the completion of the process. This includes some high profile cases from the first list of 40 companies including Videocon Industries, Bhushan Power and Steel and Lavasa Corporation, sent by the Reserve Bank of India (RBI) for resolution. The delay is mainly due to litigation and late clarifications by various government agencies including the Reserve Bank of India and litigation by the Enforcement Directorate.
Addressing an event in New Delhi, Gen Pande also said the recent global developments have underscored that the security of the nation can neither be outsourced nor be dependent on the largesse of others.
The NSE Nifty closed at 3,679, up 70 points.
In insolvency proceedings, Ericsson will be treated as only an operational creditor and may end up losing the Rs 550 crore
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