The Tata Group informed the government on Friday that it plans to shut its wireless business, bringing an end to its 21-year-old phone services venture. Tata group chief financial officer Saurabh Agrawal and Tata...
RCom files application for withdrawal of scheme of demerger of tower business
Reliance Communications (Rcom), a few days after it scrapped its merger with Aircel, has now withdrawn a scheme to demerge its towers into a separate company from the National Company Law Tribunal (NCLT) and said it...
Banks reluctant to convert RCom debt to equity under SDR
Lenders to Reliance Communications Ltd (RCom) are reluctant to convert their debt into equity if the company doesn’t provide strong visibility on how it plans to reduce debt before December, three bankers aware of the...
RCom reworking $1.7 bn tower assets stake sale after failed Aircel deal
Reliance Communications is reworking a planned $1.7 billion stake sale in its tower assets after scrapping a proposed merger of its wireless arm with smaller rival Aircel, as its shares tumbled to an all-time low. RCom...
Airtel-Tigo merger gets NCA approval in Ghana
Bharti Ghana (Airtel) on Tuesday said the Ghana’s National Communications Authority has given approval for its merger with Millicom Ghana (Tigo) to proceed, subject to some conditions. According to the company...
RCom debt restructuring to be further delayed after Aircel merger collapse: Moody’s
Rating agency Moody’s Investor Services (Moody’s) said Reliance Communications’ (Rcom) scrapping its merger with Aircel has no impact on the telco’s corporate family and senior secured bond...
RCom open to selling 100% of tower unit to Brookfield
Reliance Communications is in discussions with the Brookfield group to sell up to 100 percent stake in its tower subsidiary instead of the 51 percent it had earlier agreed upon. The international tower company is also...
Idea-Vodafone merger likely to be completed by March
Vodafone India and Idea Cellular merger deal is expected to be completed by March next year, as all regulatory approvals are likely to be obtained by that time, a source privy to the deal said. “There are only two...
Vested interests led to broken deal: Punit Garg, Executive Director, RCOM
Reliance Communications has blamed delays due to “vested interests” of companies such as Bharti Infratel and GTL InfrastructureBSE -0.96 %’s Chennai Network Infrastructure among key reasons for the collapse of its...
RCom’s lifeline deal with Aircel called off
Reliance Communications (RCom) has called off its merger with Aircel, owned by Maxis of Malaysia, following legal and regulatory hurdles, putting a question mark on the company’s promise to its lenders to reduce its...
Aircel likely to go for debt restructuring
Telecom operator Aircel may start an independent debt restructuring programme now that its proposed merger with Reliance Communications has fallen through, people aware of the firm’s alternative plans said. In an...
Infra firms, PE funds eye Vodafone India’s stake in Indus Towers assets
Vodafone India Ltd has been approached by infrastructure companies and private equity funds (PEs) to buy the telecom company’s stake in Indus Towers Ltd, according to a person with direct knowledge of the matter. “We...
