The intra-city cable leasing deal will give RCom Rs 1,200 crore, which will be used to clear some of its debt.
RCom has also tied-up with select credit card providers for its latest offering.
Investors in Anil Ambani group firm Reliance Communications have reaped a windfall with the company adding over Rs 50,000 crore (Rs 500 billion) in its market cap since its listing on the bourses last year.
The company is looking at demerger of land banks from RCom and then go for separate listing.
Extending its new device plus data plan to more smartphones, the operator is keen to capture the youth's attention.
Anil Ambani had given a personal guarantee to the loans given by SBI to Reliance Communications and Reliance Infratel in August 2016.
RCom is expected to have a 50% stake, Aircel 40% and MTS 10%
Initiative aims to encourage more people to use the Internet.
This will help the company reduce its debt that has doubled to Rs 40,177.6 crore in four years.
A liberalised spectrum allows operators to use any technology to deliver services like 3G and 4G.
With the State Bank of India moving the National Company Law Tribunal's Delhi bench to enforce the personal guarantees of Ambani, it will delay the recovery of dues by the Chinese banks which won a UK court order in May this year.
Life Insurance Corporation of India has hiked its stake in Anil Ambani Group company Reliance Communications to 7.02 per cent after buying fresh shares worth Rs 1,274.4 crore through an open market transaction.
The much-touted deal between Anil Ambani group company RCOM and South African telecom giant MTN was called off on Friday. "The two sides were unable to conclude the transaction due to certain regulatory issues," RCOM spokesperson said in statement on Friday night.
Total income from operations rose 6.55 per cent to Rs 5,361 crore (Rs 53.61 billion) for the reported quarter as compared to Rs 5,031 crore (Rs 50.31 billion) for the same period last year.
The National Company Law Tribunal (NCLT) on Monday gave its approval to Jio for the acquisition of Reliance Infratel (RITL). The tribunal asked Jio to deposit Rs 3,720 crore in the State Bank of India (SBI) escrow account to complete the acquisition of RCOM's tower and fibre assets. On November 6, Jio had proposed to deposit Rs 3,720 crore in an escrow account to complete the acquisition of Reliance Infratel which is undergoing an insolvency resolution process.
The company has reportedly been in the process of shutting its CDMA business and shifting its subscribers to 2G, 3G and 4G networks.
Reliance Communications on Friday said it has been allotted a brand new 8080 series by the DoT for roll-out in Mumbai.
Chinese banks -- China Development Bank, China Exim Bank and Industrial and Commercial Bank of China (ICBC) -- will get a lion share of 30 per cent or Rs 7,000 crore in RCOM/RTL/RITL resolution plan, with the DoT getting nothing if the proposed plan goes ahead.
The company will use the proceeds to part-repay its debt, which stands at Rs 34,000 crore (Rs 340 billion) even after the recent qualified institutional placement of its shares. An RCom board committee recently approved the sale of these assets.
Anil Ambani group firm Reliance Communications denied news reports that it was acquiring the EPL club Newcastle United for an estimated 260 million pounds.
Alcatel-Lucent currently operates a joint venture with Reliance Communications to manage the Indian carrier's network.
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
In 2009, Reliance Communications' net worth exceeded Rs 37,000 crore (Rs 370 billion) making it one of the top three companies in India.
Reliance Communications, whose board on Tuesday approved the proposal for Reliance Infratel IPO, would also consider fund raising through qualified institutional placement basis at an appropriate time.
In its offer, that comes days after RIL invoked the arbitration clause under the non-compete agreement and asked RCOM to start conciliation as part of the process, Reliance Communication proposed to meet 'RIL in week of 14th July to clarify any doubts'. RCOM sources said that neither there was any dispute nor occasion for conciliation process and said that communication to RIL makes it clear that the company reserved the rights to take all actions as legally advised.
A bench headed by Justice H S Kapadia, while dismissing Tata Teleservices and Reliance Communication's petitions, has upheld telecom tribunal TDSAT's order of September 2005 that held these services are not fixed lines telephones, but limited mobile. The Supreme Court had earlier reserved its judgement on a petition filed by Tata Teleservices challenging the telecom tribunal's order which classified the company's fixed wireless phone service 'Walky' as limited mobile.
Anil Ambani-led Reliance Communications on Tuesday announced a strategic alliance with US-based GetJar, the world's second-largest app store to avail over 65,000 free mobile applications for R-Com's over 100-million subscribers.
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.
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.
RCom is set to launch a lifetime connection for Rs 199, the lowest from any service provider in the country.
As per the company website, Reliance Globalcom owns undersea cable system spanning 65,000 km, which connects 40 business markets in India, Middle East, Asia, Europe, and the US.
Reliance Communication has launched 'Classic 732' at a price of Rs 999, the lowest in Indian market. Earlier in May, the company had launched the Classic monochrome phones at a price of Rs 777.
According to sources in the know, Anil Ambani-led RCom will be providing all infrastructure - towers, fibre, backhaul as well as its national and international long distance facilities-- to RIL's high-speed broadband services.
Under the pact, Mukesh Ambani-led Reliance Industries' telecom arm will hire nationwide optical fibre network of Reliance Communications for rollout of 4G services.
Indian telecommunications companies are ringing louder. Bharti Airtel and Reliance Communications are among the big league of gloal telecom companies.
The company has enhanced validity and talk-time of its already launched GSM tariff plans. Under the new offer, subscribers would be able to make local calls at 50 paise per minute (Re 1 earlier) and STD calls at 75 paise per minute (Rs 1.50 earlier). It had also extended validity for lifetime (licence period of the company).
According to some analysts, Reliance has vaulted ahead of others in the queue and now stands a "rock-solid" chance of getting spectrum earlier than expected.
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.
Observing there was a 'wilful default', the Supreme Court last month held Ambani guilty of contempt of court and ordered the debt-laden company to clear the dues to Ericsson.
The three companies for sale are Reliance Communications, Reliance Telecom and Reliance Infratel.
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