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.
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
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.
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.
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.
RCom is set to launch a lifetime connection for Rs 199, the lowest from any service provider in the country.
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.
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.
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.
Indian telecommunications companies are ringing louder. Bharti Airtel and Reliance Communications are among the big league of gloal telecom companies.
Under the pact, Mukesh Ambani-led Reliance Industries' telecom arm will hire nationwide optical fibre network of Reliance Communications for rollout of 4G services.
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.
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.
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.
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.
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.
The three companies for sale are Reliance Communications, Reliance Telecom and Reliance Infratel.
Reliance also plans to convert the book into an adult audio mobile book.
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.
RComm will get GSM spectrum along with other players like Vodafone, Airtel and Idea. This move will bring RComm actively in the GSM field.
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.
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.
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.
Deals between the two could earn RCom Rs 14,000 cr, says Anil Ambani.
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.
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.
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 Telecom Dispute Settlement Appellate Tribunal (TDSAT) upholds government's decision on dual technology for RCom.
