Anil Ambani group firm Reliance Communications denied news reports that it was acquiring the EPL club Newcastle United for an estimated 260 million pounds.
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.
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.
The ransom subsequently kept increasing to Rs 200 crore and Rs 400 crore each time a fresh email was sent.
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.
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.
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.
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.
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
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.
Finance ministry advises banks to invoke personal guarantees of all promoters whose companies have gone to NCLT for debt resolution.
Foreign institutional investors have been allowed to invest up to Rs 5,400 crore (Rs 54 billion) in Reliance Communications through ADRs or GDRs.
Nokia and Reliance Communications have joined hands to market the Nokia 1255 mobile handset that costs just Rs 1,999. \n
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.
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
The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.
Most telcos say the speed will surpass fixed broadband as the 5G roll out, which is currently on 360,000 towers, crosses 400,000.
New Delhi is also set to top its target of raising at least $13 billion.
Under the pact, Mukesh Ambani-led Reliance Industries' telecom arm will hire nationwide optical fibre network of Reliance Communications for the roll-out of 4G services.
With seven million new subscribers, India accounted for the highest net addition of mobile subscriptions globally in the second quarter of 2023, according to the August edition of Ericsson Mobility. Among national markets, India was followed by China with five million and the US with three million subscribers. The subscriber penetration in India, however, stood at 79 per cent, compared to 120 per cent in China, the report said.
The Supreme Court on Tuesday granted 10-year time to telecom firms like Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the Adjusted Gross Revenue (AGR)-related dues to the department of telecommunications with certain conditions.
With the Beijing Olympics 2008 starting from Friday, three of the major Indian telecom service providers Reliance Communications, BPL Mobile and Tata Communications are launching services aimed at tapping the communication potential of the event.
In view of the recent attacks on its agri retail stores, the Reliance Industries group company on Tuesday said it will go slow on the roll out of Reliance Fresh outlets in the state.
The network sharing agreement is the start of a new era of partnership between the brothers. More deals on sharing towers and intra-city fibre network are likely.
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