Its effort to stave off bankruptcy by selling spectrum to Reliance Jio got scuttled after the long legal and government delays for approvals.
Firming up its plans to rollout direct-to-home (DTH) television services, telecom firm Reliance Communications (RCom) has booked capacity on Malaysian satellite system, MEASAT-3. The deal size could not be confirmed, while it is understood that the deal is signed for around 15-20 years. RCom has booked four transponders, with an option to add four transponders after a year on MEASAT-3.
It is estimated that RCom has been reeling under debt of over Rs 46,000 crore.
Reliance Communications (RCom) and Reliance Industries (RIL) were the top losers among Sensex stocks on Thursday, after a research report by Canada-based equity research firm Veritas made damning accusations against their managements.
Reliance Communications (RCom) and Reliance Industries (RIL) were the top losers among Sensex stocks on Thursday, after a research report by Canada-based equity research firm Veritas made damning accusations against their managements.
Reliance Communications is planning to hive off its direct-to-home and Internet protocol TV businesses into a separate company titled Reliance Digital Works.
Anil Ambani group firm Reliance Communications will acquire Digicable, the country's largest cable TV service provider, in an all-stock deal believed to be worth about $1 billion.
Idea cellular trebled its share in the Mumbai market, albeit on a low base. RCom, for its part added five million (including GSM) subscribers during the month, numbers that have both surprised and confounded the market.
Reliance Globalcom will become the holding company for the global operations of Reliance Communications (which offers voice services like Reliance India Call, Reliance Global Call, Reliance Netcall and Reliance Passport), the submarine cable subsidiary Flag Telecom and the recently acquired US-based Yipes Enterprise Service (an Ethernet technology major).
Leading telecom players like RCom, Tatas, Vodafone and Idea Cellular failed to bag a single circle for Broadband services, saying the BWA spectrum price was too high to make a viable business case.
Initially, RCom users will be able to create their own caller tunes and ringtones by uploading the content through RCom's web interface.
For Rs 39, customers can talk for 300 minutes anywhere in India and worldwide
Delhi HC has refused to stay the process of spectrum allotment to RCom, giving a major setback to GSM operators.
Lack of a commercial agreement between RCom and GSM operators is a major reason for the lack of inter-connectivity agreements. RCom is unwilling to re-negotiate the terms of interconnection and this is hindering interconnect issues, COAI said in a letter to Trai. However, there arises a need to 'mutually establish the technical and commercial terms of interconnection for RCom's new GSM network, and consequently establish the physical interconnectivity for the same,' it said.
Anil Ambani-led Reliance Communications on Monday announced the launch of Braille Bill service for providing postpaid bills to the visually impaired.
RCom will use Motricity's m-Core platform to deliver advanced services and applications on its 3G, GSM and CDMA mobile platforms.
ADAG company offers one-time subscription charge of Rs 25. To capture its share in the fast-growing GSM subscriber base, RCom has focused on the segment that provides less than Rs 300 as average revenue per user and launched its services at competitive prices.
Passing an interim order, Telecom Dispute Settlement and Appellate Tribunal also directed BSNL to restore RCom's inter- connection within 48 hours of such payment. TDSAT Chairman Justice Arun Kumar said: "I am of a view that the petitioner (Rcom) should deposit an amount of 65 per cent of disputed claim in one week and respondent should restore the connection with 48 hours of the deposit."
RCom is looking at listing Flag Telecom through a Singapore business trust, Global Telecommunications Infrastructure Trust on the Singapore stock exchange.
Anil Ambani-led Reliance Communications on Tuesday said it may sell 26 per cent stake in the company, and also list its telecom tower subsidiary Reliance Infratel, to become debt free.
Bharti Airtel on Thursday submitted its bid for 3G spectrum, auction for which starts from April 9.
Ericsson to manage day-to-day ops across wireline and wireless network.
The company added 2.8 million wireless subscribers on its GSM and CDMA platforms in the month of June, RCom said in a statement. RCom offers telephony services on both GSM and CDMA platforms.
However, TDSAT has asked govt to dispose of two representations made by the company on the guidelines.
The Anil Ambani group on Friday asked market regulator SEBI to probe hammering down of shares of Reliance Communications and other companies by rivals and charged RIL with attempting to derail ongoing talks for a deal with South African telecom giant MTN.
RCom, which launched its nationwide GSM services in January last year, currently offers telephony services on both the GSM and CDMA platforms.
The discussions are 'indicative and non-binding' in nature.
According to data from the Telecom Regulatory Authoroty of India, the total number of GSM subscribers of RCom at the end of September was 41.2 million, while the CDMA base was 55.28 million.
A special audit of Anil Ambani group firm Reliance Communications will be delayed, as the auditor Parakh & Co. has sought an extension for three months from mid-July.
The Rs 8,000-cr deal is expected to be finalised early next month.
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.
With many new players waiting to launch their operations and Mobile Number Portability to be implemented shortly, the competition will intensify further.
In a move that will result in further snowballing of the spectrum issue, British telecom major Vodafone has termed the Reliance Communications' (RCom) allegations "as false and inconsistent with the facts".
DoT sources confirmed receipt of the report by auditors Parekh and Co and said that it is yet to examine the findings. DoT would ask for RCom's response later.
Reliance Communications (RCom) has launched a new scheme that enables its subscribers to make STD calls at Re 1 and local calls at 50 paise per minute.
Company says it has been the victim of a 'mischievous' campaign by rivals.
Cable and DTH companies cannot hold more than 20 per cent stake in each other.
Move to skirt public offer for S African telco.
Telco sector has been been cutting back on freebies and discounted minutes to maintain profitability.
RCom and Aircel have permits for 3G services in 13 out of 22 service areas while Tata Teleservices has permit in 9 circles.
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