Reliance Communications buy back bonds in International market

December 23, 2008 · Filed Under Reliance Communication · Comment 


Reliance Communication has become the first corporate to buy back its bonds in the international market. The corporate is taking advantage of the recent RBI guidelines allowing use of rupee resources to buy back bonds worth $50 m. Once this tranche is over, the company will also look at buying back using forex from the market. Bankers said that a host of other companies have also applied to the Reserve Bank of India for approval to buy back bonds.
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RCom criticises spectrum allocation

December 16, 2008 · Filed Under Videos · Comment 

Anil Ambani-promoted Reliance Communications (RCom) on Wednesday lambasted the department of telecommunications (DoT) for its decision to follow the regulator’s method for allotting spectrum or airwaves to operators. “DoT succumbs to private GSM operators’ pressure tactics. Concessions to GSM operators are unnecessary and unwarranted,” said Gaurav Wahi, spokesperson of RCom, in a statement in New Delhi.

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RCOM’s GSM plans on hold?

December 16, 2008 · Filed Under Videos · Comment 

The existing GSM players want Reliance Communication to enter into a new interconnection agreement with them. This will ensure that a call from a Reliance phone reaches the intended receiver who may be using an Airtel phone. For this to happen both companies have to sign an agreement under which Airtel allows the Reliance call to enter and travel on its network.

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DoT all set to bring in RCOM book under CAG scanner

December 16, 2008 · Filed Under Reliance Communication · Comment 


The department of telecom (DoT) is set to ask the Comptroller and Auditor General of India (CAG) to appoint a special auditor to Telecom Formula for successful biz examine the books of Reliance Communications (RCOM) over allegations that the telco in FY08 diverted revenue earned from its mobile services to a subsidiary in an attempt to bring down the total amount it had to pay to the government as licence fee and spectrum charge.

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Reliance Communications quaterly result: beat estimates, profit up 18%

November 1, 2008 · Filed Under Reliance Communication · Comment 

Reliance Communications Ltd., Anil Dhirubhai Ambani Group company and India’s second-largest mobile-phone operator, reported second- quarter profit rose 18 percent, beating estimates, after adding a record number of customers.

Net income climbed to 15.3 billion rupees ($310 million) in the three months ended Sept. 30, from 13 billion rupees a year earlier, Mumbai-based Reliance said in a release today. Profit exceeded the 14.2 billion rupee median estimate of six analysts surveyed by Bloomberg. Sales rose 22 percent.
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RCom unveils new CDMA handset - Motorola - W362

June 30, 2008 · Filed Under Reliance Communication · Comment 

Reliance Communications (RCom) hopes to grow its customer-base much faster this year with the introduction of new offerings and equipment.
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