Smallbusiness
Joining its rivals, Reliance Communications is going to upgrade its CDMA users to 4G network from May 4.The Anil Ambani-led company will roll out the service in phases for nearly 5 million CDMA customers.
"We will be upgrading our network from CDMA to LTE (a 4G standard) technology. We would be rolling out LTE services progressively in these service areas from May 4 and necessary intimation will be provided to our existing CDMA subscribers," the company stated in a letter to the telecom department.
The move came after Moody's Investors Service downgraded RCom's outlook to negative over delays in the sale of its non-core assets, sending shares of the telco lower.
RCom wants to get rid of Rs 40,000 crore of debt by selling its tower and optic fibre network and merging its wireless assets with Aircel.
Meanwhile, the process is likely to get completed by August 15.
RCom shares fell 1.5% to Rs 50.20 at the close on the BSE.