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Blow for Reliance Communications as wireless unit merger with Aircel collapses

Embattled telecom company¬†Reliance Communications Ltd¬†faced another setback on Sunday after a deal to merge its wireless business with smaller rival Aircel was called off, raising fresh doubts around its debt restructuring plans. The company, widely known as RCom, said it had agreed with Aircel to call off the proposed deal due to regulatory delays and legal uncertainties. RCom has been trying to reduce its debt by 250 billion rupees by merging its wireless business with Aircel and by selling a stake in its mobile masts arm to a unit of…

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Anil Ambani’s Reliance Communications Hit By Debt, Competition

Brutal competition and 457 billion rupees ($7 billion) of borrowings have finally caught up with billionaire Anil Ambani’s Reliance Communications Ltd. The Indian wireless operator rattled investors with its first full-year net loss amid signs it’s struggling to repay debt. Its $300 million junk-rated note due in 2020 declined as much as 13.9 cents on the dollar to 70.1 cents on Monday and the stock sank to a record low. Fitch Ratings and Lucror Analytics highlighted a potential liquidity crunch and people familiar with the matter said the company sought…

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Reliance Communications Offers 1GB 4G Data At Rs. 49 To New Customers

New Delhi: Reliance Communications on Friday came out with a new offering that provides 1GB data to new 4G customers for Rs. 49 whereas 3GB data will be priced at Rs. 149 plus free, unlimited local and STD calls within its network. The plans under ‘Joy of Holi’ offer come with a 28-day validity. “With this launch, all new 4G customers of Reliance Communications will get… 1GB of data access offered at just Rs. 49 while 3GB of data access can be availed for only Rs. 149, along with free…

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