At a session with analysts last Monday, RComm chairman Anil Ambani said the Rs 10,000 crore (Rs 100 billion) investments would be used for network expansion.
Speaking at a press conference in Kolkata organised by TDSAT, N K Mangla, head of the regulatory department of Reliance Communication, said, "We plan to have a customer capacity of 8 million or 55 per cent of the population in 2008." Reliance also plans to cover 95 per cent of highways, 93 per cent of railways, 6,000 towns and five lakh villages in 2008. Currently, the company has 22,000 towers.
Telecom service provider Reliance Communications is to tap the retail international long distance calling space in the UK
Tata Teleservices said on Monday that it is unfair and incorrect to compare the company with dual technology operators like RCom and others as they had applied and got the approval even before the policy came into effect.
Reliance Communications' tower business Reliance Infratel is likely to enter into an end-to-end telecom infrastructure agreement with Aircel for towers, voice carriage and bulk bandwidth worth about $300 million.
Reliance also plans to convert the book into an adult audio mobile book.
Resignations of Anil Ambani and four other directors were conveyed to the CoC of RCom in its meeting on November 20 and were unanimously rejected.
South African major to make open offer to RCom shareholders. The deal would create a telecom colossus with 115 million subscribers in 25 countries.
Announcing the rollout, Anil Ambani told reporters that the company has invested over Rs 10,000 crore (Rs 100 billion) in the project, which was completed six months ahead of schedule. Reliance Communications mobile users will now have a choice of both CDMA and GSM services, Ambani said, adding, "the project was completed within 15 months", six months ahead of schedule.
The Anil Ambani group company has soft-launched the service in Mumbai, Delhi, Gujarat, Punjab Bangalore and Chennai. The company has provided GSM phones to its employees for testing the service, according to sources.
Reliance Communications has received approvals from Maharashtra and MIDC for its proposed 45-acre special economic zone.
Reliance Communications has announced an Employee Stock Options Scheme (ESOPs) that will cover over 20,000 employees, including its subsidiaries. The company's ESOPs committee has approved the grant of 17.5 million options to the eligible employees based on a specified criterion.
RComm will get GSM spectrum along with other players like Vodafone, Airtel and Idea. This move will bring RComm actively in the GSM field.
Deals between the two could earn RCom Rs 14,000 cr, says Anil Ambani.
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.
The company had a net profit of Rs 1,636.61 crore (Rs 16.36 billion) in the same quarter previous year, Reliance Communications said in a filing to the Bombay Stock Exchange.
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.
Mumbai-based Reliance Communications increased voice call prices by about a fifth late last month and also increased the base tariff for voice calls.
Reliance Communications, Reliance Infratel, Huawei Technologies and Walt Disney Company (India) are among the companies which misused or diverted funds raised from abroad under the ECB route in the last three years, Parliament was informed on Friday.
The dispute between RCom and Chinese banks led by ICBC started after Anil Ambani led company defaulted on its loans to Indian as well as Chinese banks. A British court on May 22 asked Ambani to pay nearly $717 million to three Chinese banks within 21 days.
BSNL had disconnected the point of interconnection of Reliance Communications on May 23 and May 31 in Haryana and on May 4 in Punjab claiming non-payment of pending dues by the private telco.
Shares of the Anil Ambani-promoted firm ended 1.90 per cent higher at Rs 64.50 on the BSE. During the day, the stock had jumped 9 per cent to Rs 69.
The Delhi high court on Thursday put on hold the insolvency resolution process (IRP) proceedings against Reliance Communications (RCom) chairman Anil Ambani in relation to the recovery of Rs 1,200 crore loans given by SBI to his two firms. Ambani had given personal guarantees for the Rs 565 crore and Rs 635 crore SBI loans to RCom and Reliance Infratel Ltd (RITL), respectively, in August 2016.
The Telecom Dispute Settlement Appellate Tribunal (TDSAT) upholds government's decision on dual technology for RCom.
In contrast to the stand by GSM operators, CDMA players like RCom and Tatas hailed telecom regulator TRAI for its "balanced, progressive and transparent" spectrum proposals.
Reliance Communications could become a much more formidable opponent.
The district consumer court in its recent order directed the service provider to pay Rs 5,000 towards the mental trauma, and physical and financial losses incurred by Subhash Kharat and Rs 1,000 as litigation expenses.
Anil Ambani Group firm Flag Telecom on Monday announced the acquisition of US-based Ethernet services provider Yipes Communications for 300 million dollars (Rs 1,200 crore) in cash.
Reliance Communications launched a new 'Simply Reliance Plan' on its CDMA and GSM networks, which offers a single rate of 50 paise per minute across the country with no hidden charges.
He, however, seemed to indicate that he did give a personal guarantee to India's largest lender SBI, which has moved the NCLT to recover Rs 1,200 crore.
The company said with the pack, customers can access data at Rs 10 per MB on international roaming while the base tariff is Rs 614.4 per MB. Outgoing voice calls to India can be made for Rs 40 per minute as compared to the base tariff of Rs 165 per minute.
RCom, which, sources say had offered to pick up a 51 per cent stake in MTN through a complicated share-swap deal through which shareholders of the African company would pick up stake in RCom, had asked for an extension of the exclusivity talks for another three to four weeks.
RCom and Research In Motion have introduced the 'Reliance E-Lite' plan for BlackBerry smart phone users in India, where users can have unlimited access to email and instant messaging on their phones for Rs 299 a month, RCom said. The service plan would be available on BlackBerry smartphones available from Reliance Mobile, such as BlackBerry 8703e, BlackBerry 8830, BlackBerry Curve 8300, BlackBerry Curve 8900, BlackBerry Pearl 8110 and BlackBerry Pearl 8130.
According to sources, Idea Cellular has agreed to provide interconnection to RCom thereby not becoming a part of Cellular Operators' Association of India's likely petition against Trai's directive on the same. Besides, other operators to provide interconnectivity to RCom GSM network are Aircel and Spice Communication.
Reliance Communications has accused "old 2G operators" of causing over Rs 1 lakh crore (Rs 1 trillion) in losses to the exchequer through "fraudulent means".
The government has sent show-cause notices to 5 telecom firms including Reliance Communications and Tata Teleservices for alleged understatement of revenues of over Rs 10,000 crore.
Also mandates pursuing other consolidation options.
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