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Reliance Communications Ltd (RLCM.BO)

RLCM.BO on Bombay Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Reliance Communications signs agreements with Brookfield Infrastructure for sale of towers business
Wednesday, 21 Dec 2016 02:16am EST 

Reliance Communications Ltd : Tower business to be demerged into a separate company to be 100% owned and independently managed by Brookfield Infrastructure . RCom to also receive ‘B’ class non voting shares in towerco providing 49% future economic upside from the business . RCom will continue to hold 50% stake in Aircel JV and 49% upside in towers business to be monetised at appropriate time . Reliance Communications signs binding agreements with Brookfield Infrastructure and institutional partners for sale of towers business . Says RCom to receive upfront cash payment of 110 billion rupees (US$ 1.6 billion) . Says RCom and RJio to continue as major long term tenants . Says RCom to utilise cash 110 billion rupees solely to reduce debt . RCom expects significant future value creation from the B class shares .RCom to enjoy certain information and other rights, but will not be involved directly or indirectly in management and operations of new co.  Full Article

India's RCom says special leave petition against co on FCCB dismissed by supreme court
Tuesday, 22 Nov 2016 02:43am EST 

Reliance Communications Ltd : Supreme court dismisses special leave petition filed by income-tax department against reliance communications on fccb .Order has quashed contingent tax liability of RCom for about Rs 4800 crore..  Full Article

Reliance Communications unit buys Onyx Newco LLC
Wednesday, 16 Nov 2016 07:00am EST 

Reliance Communications Ltd :Reliance Communications - subsidiary Reliance Globalcom Services Inc, has acquired a newly incorporated company named "Onyx Newco LLC".  Full Article

Reliance Communications, Brookfield Infra sign term sheet for sale of telecom towers business
Friday, 14 Oct 2016 02:24am EDT 

Reliance Communications Ltd : Reliance Communications signs term sheet with Brookfield for sale of its telecom towers business . RCom to utilise proceeds of sale solely to reduce debt . RCom to receive upront cash payment of 110 billion rupees . Proposed transaction subject to final documentation and customary approvals . RCom to enjoy 49% future economic upside from the business, based on certain conditions . Specified assets are to be transferred from reliance infratel on going concern basis into separate SPV, to be owned by Brookfield . Co, Brookfield expect considerable growth in tenancies based on increased 4G offerings by all operators . RCom will continue as anchor tenant on tower assets, under a long term MSA, for its integrated telecommunications business .RCom and Brookfield also see several opportunities for consolidation in the towers industry in India.  Full Article

Reliance Communications appoints Bill Barney as co-CEO
Wednesday, 5 Oct 2016 03:58am EDT 

Reliance Communications Ltd : Bill barney appointed to co-ceo role at reliance communications . Barney's appointment is effective immediately .Says barney will lead rcom business as co-ceo and will continue to operate as chairman and ceo of gcx.  Full Article

Reliance Communications says Rajasthan high court sanctions co's scheme of arrangement with Sistema Shyam Teleservices
Friday, 30 Sep 2016 09:07am EDT 

Reliance Communications Ltd :Rajasthan high court sanctioned scheme of arrangement between Sistema Shyam Teleservices Limited, co.  Full Article

Reliance Communications seeks members' nod for issue of NCDs
Tuesday, 30 Aug 2016 12:48am EDT 

Reliance Communications Ltd : Seeks members' nod for or making offer to subscribe secured/unsecured/ redeemable NCDs on private placement basis .  Full Article

Reliance Communications says co expects to announce proposed aircel deal very shortly
Thursday, 23 Jun 2016 05:17am EDT 

Reliance Communications Ltd : Expects to sign binding documentation and announce the proposed Aircel transaction very shortly . RCOM and Maxis Communications Berhad and Sindya, shareholders of Aircel, expect to sign binding definitive documentation .  Full Article

Reliance Communications March-qtr ARPU up 10.6 pct Q-o-Q
Monday, 30 May 2016 08:47am EDT 

Reliance Communications Ltd : March-quarter ARPU at 157 rupees, up 10.6 percent Q-o-Q . March-quarter RPM at 47.7 paisa, up 5.5 percent Q-o-Q .  Full Article

Reliance Communications March-qtr consol profit down about 22 pct
Monday, 30 May 2016 08:37am EDT 

Reliance Communications Ltd : March-quarter consol net profit 1.77 billion rupees; March-quarter consol total income from operations 56.17 billion rupees .  Full Article

Deals of the day- Mergers and acquisitions

Jan 6 The following bids, mergers, acquisitions and disposals were reported by 2120 GMT on Friday: