Reliance Communications Ltd (RLCM.NS)
23 Oct 2017
BRIEF-Reliance Communications gets final approval from DoT for demerger of wireless business of Sistema Shyam Teleservices
* Gets final approval from DoT for demerger of wireless business of Sistema Shyam Teleservices Limited into co
MUMBAI Bharti Airtel Ltd is acquiring the Tata conglomerate's consumer mobile business virtually free of charge in a deal that gives India's top wireless player a major subscriber base boost, while stemming the bleed for Tata from a money-losing venture.
* High debt, eroding profit forcing India telco consolidation (Adds analyst comment, context on telecom market)
* India's National Company Law Tribunal says to hear Reliance Communications, Ericsson case on Nov. 8 Further company coverage: (Reporting By Abhirup Roy)
- Note: Reuters has not verified this story and does not vouch for its accuracy
MUMBAI, Oct 4 India's Reliance Communications said on Wednesday it had applied to a tribunal to withdraw a plan to spin-off its towers business, as a first step towards renegotiating the deal after ending plans to merge its wireless business with a rival.
BRIEF-Reliance Communications files application for withdrawal of scheme of demerger of tower business
* Says application for withdrawal of scheme of demerger of tower business under RITL been filed as on 3 October
MUMBAI 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.
MUMBAI, Oct 3 Shares of India's Reliance Communications tumbled as much as 7.8 percent in early trade on Tuesday to an all-time low after the company scrapped a proposed merger of its wireless arm with rival Aircel, raising doubts about a debt-reduction plan.
MUMBAI Reliance Communications is reassessing debt repayment options after a deal to merge its wireless arm with smaller rival Aircel was scrapped, dealing a fresh blow to the embattled Indian telecoms company.