An arbitration court has “restrained” Reliance CommunicationsBSE 1.98 % (RCom) from selling or transferring assets without its permission, and set June 9 as the date for the next hearing, dealing a blow to the Anil...
Aircel first to file for bankruptcy under RBI’s new norms
Aircel became the first victim of the Reserve Bank of India’s zeal to promote bankruptcy law to resolve default cases instead of numerous but complicated restructuring programmes that were holding up revival of...
Govt to approve Idea-Vodafone merger once mobile tower sale is completed
Closure of Vodafone and Idea’s mobile tower sale deal, and raising FDI limit in the Aditya Birla group firm are holding the government’s approval to the merger of two operators’ to create the largest...
Bharti Infratel, Indus Towers planning merger to create telecom tower giant
Bharti Infratel Ltd and Indus Towers Ltd—two of India’s largest telecom tower firms—are planning to merge their businesses, three people aware of the matter said. Vodafone India Ltd and publicly traded Bharti Infratel...
A failed merger and bailout plan hammered the last nail in Aircel’s coffin
For Anand Krishnan, the promoter of Maxis and a majority shareholder in Aircel, it is a tryst he’d like to forget. On January 25 this year Aircel went into a strategic debt restructuring programme with its lenders...
Debt-laden Aircel to file for bankruptcy at NCLT
Telecom company Aircel will shortly file for bankruptcy at the National Company Law Tribunal (NCLT) and its board has been dissolved ahead of the move, said two people aware of the matter. That will mark the demise of...
Shareholders okay RCom asset monetisation plan for servicing Rs 450-bn debt
Debt-ridden telecom operator RCom said on Friday its shareholders had approved an asset monetisation plan which would be used to repay dues. “The shareholders of the company approved the monetisation of its assets. The...
Idea Cellular board approves Rs3,500 crore QIP
Idea Cellular Ltd’s board on Wednesday approved a proposal to sell shares via a qualified institutional placement (QIP) to raise as much as Rs3,500 crore. “The board has authorised the committee of directors to decide...
ATC moves Delhi HC seeking surety for Rs 100.6-Cr RCom dues
American Tower Corporation (ATC) has moved the Delhi High Court against Reliance Communications and its Reliance Telecom subsidiary, seeking surety over Rs 100.63 crore that ATC says the two companies owed it for...
India’s RCom calls bondholders’ meet over asset-sale plan
Debt-laden Indian telecoms carrier Reliance Communications Ltd will hold a meeting of its bondholders on March 6 to seek approvals for asset-sale plans, the company said in a regulatory filing late on Monday. RCom, as...
Vodafone, Idea may have a new brand name after merger
Vodafone India and IdeaBSE 1.13 % Cellular, India’s second-and third-ranked telcos that are merging, are working on a new name and brand identity for the combined entity, which may come into effect a year after...
TDC rejects takeover offer from Macquarie, Danish funds
Danish telecoms operator TDC (TDC.CO) said Wednesday it had turned down an indicative takeover bid from Australia’s Macquarie and three Danish pension funds ATP, PFA and PKA. “Having reviewed the terms of the proposal...
