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.
In the third infrastructure sharing agreement between firms run by brothers Mukesh and Anil Ambani, Reliance Industries' telecom arm has agreed to use Reliance Communication Ltd's intra-city fibre network to roll out 4G services.
According to reports, the deal, if successful, could fetch Hutchison as much as $14 billion and would be Asia's largest private equity deal.
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
Foreign institutional investors have been allowed to invest up to Rs 5,400 crore (Rs 54 billion) in Reliance Communications through ADRs or GDRs.
After making its entry into the Bombay Stock Exchange's benchmark 30-share index Sensex in May
The Delhi high court on Monday sought the Centre and SBI's reply to former RCom chairman Anil Ambani's plea to include the Chinese banks, which have got a decree of $717 million against him from a court in United Kingdom, in the proceedings related to recovery of Rs 1200 crore loan granted to two of his companies. The high court also said that the moratorium on recoveries from sale of Ambani's assets, as provided under section 96 of the Insolvency and Bankruptcy Code (IBC), would remain in operation for now. This direction came on the application moved by the State Bank of India (SBI) seeking a declaration that the moratorium shall continue to be in effect.
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.
Even before the real 3G mobile services takes off, competition at the trial level is hotting up with Reliance Communications applying for the radio waves for testing of interface for both GSM and CDMA based services.
Nokia and Reliance Communications have joined hands to market the Nokia 1255 mobile handset that costs just Rs 1,999. \n
Reliance Communications has proposed an entry fee of Rs 150 crore (Rs 1.5 billion) for metro circles and Rs 100 crore (Rs 1 billion) for category B circles for getting 3G spectrum.
Successful bidders will have to pay 25 per cent of the amount upfront for sub 1 GHz, and 50 per cent upfront for higher frequency bands.
The NSE Nifty closed at 3,679, up 70 points.
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.
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The Reliance Group employee is among those who have been arrested
Further deleveraging needed to cut net debt and sustain operational improvement
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.
Bidding for the sixth round of spectrum auction for radiowaves worth Rs 3.92 lakh crore will start from March 1, according to a notice issued by the Department of Telecom on Wednesday. The long-awaited spectrum auction is being held after a gap of four years and over two years after the Telecom Regulatory Authority of India (Trai) calculated and recommended base price for the radiowaves. The DoT has fixed January 12 for the pre-bid conference and January 28 as the last date for seeking clarification to the notice.
Telecom Minister Ravi Shankar Prasad had told Parliament in November that Bharti Airtel, Vodafone Idea and other telecom companies owe the government as much as Rs 1.47 lakh crore in past statutory dues.
If raters get away by moving from AAA to D overnight after companies default, as happened with DHFL, YES Bank, RCom, and IL&FS, it shows a complete breakdown in the rating system. It calls for exemplary punishment, not kid glove treatment, says Debashis Basu.
Reliance Capital has two credit verticals -- Reliance Commercial Finance and Reliance Home Finance -- with a cumulative asset of over Rs 25,000 crore.
State govt aims to make Hyderabad a 4G WiFi-enabled city by December.
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.
Deals between the two could earn RCom Rs 14,000 cr, says Anil Ambani.
Company says it has been the victim of a 'mischievous' campaign by rivals.
Market share of Airtel, Vodafone & Idea rises to 70% from 60% in 2010 and 50% in 2008.
Mukesh and Anil will announce two more infrastructure-sharing agreements by mid-June.
Its effort to stave off bankruptcy by selling spectrum to Reliance Jio got scuttled after the long legal and government delays for approvals.
Telco sector has been been cutting back on freebies and discounted minutes to maintain profitability.
Leading telecom operators Bharti Airtel and Reliance Communications will start selling Apple's iPhone 5s and iPhone 5c smartphones from November 1.
The government has suffered a loss of Rs 12,488.93 crore (Rs 124.88 billion) due to under-invoicing of gross revenue by six telecom companies including Reliance Communications, Vodafone and Bharti Airtel, the CAG said in a damning report on Friday.
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.
Market worth has risen to half that of Airtel and double that of RCom.
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