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Reliance Communications Ltd (RLCM.NS)

RLCM.NS on National Stock Exchange of India

34.40INR
28 Apr 2017
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Latest Key Developments (Source: Significant Developments)

Reliance Communications gets members' nod for demerger of wireless business into Aircel
Monday, 24 Apr 2017 04:16am EDT 

April 24 (Reuters) - Reliance Communications Ltd :Says Reliance Communications receives its shareholders' approval with 99.99 pct majority for the demerger of wireless business into Aircel Limited.Transaction will reduce rcom debt and deferred spectrum liability by INR 200 billion.Says Rcom and promoters of Aircel to hold 50% each in ‘Mergedco’ with equal representation on board and committees.Says combined entity to enjoy enhanced business continuity through extended validity of spectrum till 2033-2036.NPV of capex and opex synergies estimated at INR 200 billion.Shareholders of Aircel Limited approved the scheme at meeting held on April 22nd, 2017, convened under the order of the NCLT.Merged entity will have spectrum holding aggregating 448 mhz across the 850, 900, 1800 and 2100 mhz bands.Aircel’s debt will reduce by INR 40 billion upon completion of the transaction.  Full Article

Reliance Communications says CCI approves proposed sale of tower division of Reliance Infratel
Thursday, 23 Mar 2017 01:02am EDT 

Reliance Communications Ltd : CCI approves proposed sale of tower division of reliance infratel limited to brookfield infrastructure group . Rapid Holdings 2 Pte. Ltd., a co which is a part of the Brookfield Infrastructure Group will acquire 100% of Towercom Infra .Says post closing, the company will receive ‘B’ class non-voting shares in towerco.  Full Article

Reliance Communications gets competition commission approval for proposed demerger of wireless business
Monday, 20 Mar 2017 01:03am EDT 

Reliance Communications Ltd : Reliance communications receives competition commission approval for proposed demerger of wireless business into Aircel .Says post closing, the company and the present shareholders of aircel limited will hold 50% each in Aircel Limited.  Full Article

Reliance Communications gets stock exchange, SEBI nod for demerger of wireless business into Aircel
Wednesday, 15 Mar 2017 01:05am EDT 

Reliance Communications Ltd : Says Reliance Communications receives stock exchange and SEBI approvals for proposed demerger of wireless business into Aircel Ltd . Says post closing, the company and the present shareholders of AIRCEL LIMITED will hold 50% each in Aircel Limited. .Says files application with National Company Law Tribunal for approval of proposed demerger of wireless business into Aircel.  Full Article

Reliance Communications says no merger talks have occurred with Tata Teleservices
Tuesday, 21 Feb 2017 01:15am EST 

Reliance Communications Ltd : Reliance Communications clarifies on news item, "Tata Tele in early talks to join RCom Aircel MTS combine". .Says as on date, no such talks have occurred.  Full Article

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

More From Around the Web

BRIEF-Reliance Communications gets members' nod for demerger of wireless business into Aircel

* Says Reliance Communications receives its shareholders' approval with 99.99 pct majority for the demerger of wireless business into Aircel Limited