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Reliance Communications and Russia's <keyword id="6368074" type="COMPANY" weightage="60" keywordseo="Sistema">Sistema</keyword> are considering the feasibility of a merger through a stock swap. 
 
"The discussions are indicative and non-binding in nature, and remain subject to due diligence, definitive documentation and approvals, as may be necessary," Reliance Communications said in a media statement on Monday. 
 
"There is no certainty that any transaction will result," the statement added. 
 
The Ambani-owned Reliance Telecom was earlier reported to be in talks on a possible takeover of SSTL, a unit of Russia's Sisterma JSFC, in an all-stock deal. 
 
Sistema Shyam has reportedly said it agrees with the Reliance’s official statement. 
 
(Image credit: Indiatimes)

Reliance Communications is looking to merge with Sistema
Shyam

In a major development, <keyword id="351012" type="PERSON" weightage="80" keywordseo="Anil-Ambani-owned">Anil Ambani-owned</keyword> <keyword id="46907" type="CITY" weightage="80" keywordseo="Reliance-communications">Reliance Communications</keyword> is planning to takeover <keyword id="6368074" type="COMPANY" weightage="80" keywordseo="Sistema">Sistema</keyword> Shyam Teleservices (SSTL) in an all-stock deal reportedly which could give the Russian-owned telco's shareholders less stake in the merged entity. 
 
However, Reliance Communications and SSTL, majority owned by Russia's Sistema JSFC, do not want to comment on the possible takeover. 
 
"Due diligence is currently on, and there is an effort to tie up details in the next two to three months," a person directly involved in the talks told the Economic Times. 
 
"The second phase of the deal, if it happens, may see Sistema (JSFC) infuse more funds to raise its stake in the new entity, which can be used for capex or pare debt," he said. 
 However, another person familiar with the developments said there's no certainty about the deal. "Talks are going on. The top leadership of both the companies have met, but there are a lot of variables at play," he said, adding "any deal will need legal clearances, in addition to a nod from the DoT (<keyword id="116246" type="ORGANIZATION" weightage="80" keywordseo="Department-of-Telecommunications">Department of Telecommunications</keyword>)." 
 
According to Sistema, the company had held talks with other telecom operators in India, including Reliance Communications, for business expansion. 
 Sistema JSFC holds nearly 57 % in Sistema Shyam, which offers telecom services under the <keyword id="510271" type="UNKNOWN" weightage="80" keywordseo="MTS-brand">MTS brand</keyword> using <keyword id="218695" type="TECHNOLOGY" weightage="80" keywordseo="CDMA-technology">CDMA technology</keyword> in nine of India's 22 service areas to nearly nine million subscribers. Other shareholders include the Russian government with over 17 % and <keyword id="124887" type="CITY" weightage="60" keywordseo="Shyam-Group">Shyam Group</keyword>, the Indian promoters of SSTL, holding 24 %. Minority shareholders own the rest. 
 
Sistema entered India in 2007. In 2008, the joint venture was awarded licences and spectrum to offer telecom services in all of India's 22 circles using CDMA technology. Sistema gradually raised its stake in the joint venture. 
 
(Image: Indiatimes)

Reliance Communications is eyeing Sistema Shyam Teleservices

<keyword id="6356812" type="CITY" weightage="20" keywordseo="Ericsson">Ericsson</keyword> will now manage Reliance Group’s flagship company <keyword id="46907" type="CITY" weightage="20" keywordseo="Reliance-communications">Reliance Communications</keyword> Limited’s wireless and wireline network pan India. The seven-year agreement signed for $1 billion is an extension of the existing agreement between Ericsson and RCom, which will now enable the Swedish communication services firm to expand its services footprint across all the 22 circles that are with RCom. 
 
“We are excited to partner with Reliance Communications for this strategic multi-technology managed services deal. We have been managing their networks in north and west and are now pleased to extend this support to all 22 Circles,” said Magnus Mandersson, executive vice-president and head of Business Unit Global Services at Ericsson. 
 
He further added, “The growing uptake in the use of new technologies requires an increased focus on customer experience management, and that will be our focus as we take on this mandate. This is the first pan-Indian managed services deal for Ericsson and will help us consolidate our managed services leadership in India”. 
 Ericsson will be responsible for streamlining the company’s wireless and wireline operations along with the maintenance, network operations and planning all of RCom’s 2G, <keyword id="17407" type="TECHNOLOGY" weightage="20" keywordseo="CDMA">CDMA</keyword> and <keyword id="6378791" type="TECHNOLOGY" weightage="20" keywordseo="3G">3G</keyword> mobile networks. 
 
“We are happy to announce our partnership with Ericsson to manage our wireline and wireless network on a pan-Indian basis. Given the complexity of networks and the growing performance expectations from customers, we are banking on the experience, innovation and technical expertise of Ericsson to improve the productivity of our network and ensure customer satisfaction and retention by delivering superior network performance and service quality at optimized costs,” Suresh Rangachar, head of Commercial, Reliance Communications. 
 
The Swedish will also help RCom identify opportunities to launch new services, which will expand its existing businesses. The agreement has been in effect since December 1, 2014. 
 
Expressing happiness over the partnership, Rangachar stated, “We are happy to announce our partnership with Ericsson to manage our wireline and wireless network on a pan-Indian basis. Given the complexity of networks and the growing performance expectations from customers, we are banking on the experience, innovation and technical expertise of Ericsson to improve the productivity of our network and ensure customer satisfaction and retention by delivering superior network performance and service quality at optimized costs.” 
 
Image: Ericsson.com

Reliance Communications Signs 7-year Agreement With Ericsson For $1 Billion

The rise and fall of Anil Ambani’s Reliance Communications

Shares of <keyword id="46907" type="CITY" weightage="100" keywordseo="Reliance-communications">Reliance Communications</keyword> fell 2.2% after the company announced launching a share sale to institutional investors in order to reduce its debt. The company said it would sell shares for Rs 142.13 each or at a concession of 5% to the floor price but did not mention the number of shares being sold in the offering. 
 
According to media reports, the company is likely to raise $500 million through the sale of shares.

RCOM Shares fall 2.2% After Launching Share Sale To Institutional Investors

After <keyword id="6356988" type="PERSON" weightage="100" keywordseo="TRAI">TRAI</keyword> barred discriminatory pricing of data services, including a ban on zero-rated products, <keyword id="46907" type="CITY" weightage="100" keywordseo="Reliance-communications">Reliance Communications</keyword> has decided to make Facebook's <keyword id="3073276" type="UNKNOWN" weightage="100" keywordseo="Free-Basics">Free Basics</keyword> platform a paid service. 
 Subscribers will now have to pay applicable data charges for accessing websites or apps through the zero-rated Free Basics platform, a spokesperson at <keyword id="6368075" type="CITY" weightage="100" keywordseo="RCom">RCom</keyword> told ET. This process would be followed after necessary technical changes are implemented over the next few days. 
 
As of now, Free Basics has only one distributor in India in the form of Reliance Communications. 
 
<a href="http://www.businessinsider.in/photo/50355295.cms">Image source</a>

Reliance Communications conforms to TRAI rule, would make Free Basics a paid service

<ul><li>Airtel, Infratel among others have placed bids for the assets of Reliance Communication. </li><li>However, Reliance Jio has still not placed a bid. </li><li><keyword id="46907" type="COMPANY" weightage="20" keywordseo="Reliance-communications">Reliance Communications</keyword> has total assets worth ₹40,721 crores. </li></ul><keyword id="9171" type="PERSON" weightage="20" keywordseo="Anil-Ambani">Anil Ambani</keyword>’s Reliance Communications which is currently undergoing bankruptcy proceedings might have relief in store for its lenders. Unlike many high profile bankruptcies like Jet Airways which are finding it tough to get bidders, six companies including Airtel have bid for RCom’s <a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/airtel-submit-bids-for-rcom-spectrum-jio-seeks-deadline-extension-by-10-days/articleshow/72027456.cms">asset</a>s. However, many expected his brother Mukesh Ambani’s Reliance Jio to bid for the spectrum, fiiber and tower assets of RCom. Jio which had bid for the assets before RCom went into bankruptcy had to take it back, after the status of the indebted telecom company changed. But this time around, Jio has not placed a bid yet, and instead sought for an extension to the November 11 deadline. The bankrupt Reliance Communications reportedly has total assets worth ₹40,721 crore, according to Moneycontrol. According to <a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/reliance-communications-may-complete-rs-25000-cr-assets-sale-by-aug-end-to-pay-ericsson-rs-550-crore/articleshow/65292722.cms?from=mdr">reports</a>, Rcomm’s assets include airwaves in 14 telecom circles, 43,000 telecom towers, licence for its 800 MHz 4G spectrum (that is set to expire in July 2021), along with other real estate. Jio had earlier bought optic fibre and assets for ₹3000 crore and media convergence nodes and infrastructure for ₹2000 crore. In May 2019, Reliance Communications moved to the National Company Law Tribunal to file for bankruptcy. It had saddled a total debt of ₹46,000 crore, and had been trying to sell assets to pay off some of it long before it landed into insolvency.

Bharti Airtel treads where Reliance Jio is measuring its steps – RCom’s assets

<ul><li><keyword id="46907" type="CITY" weightage="20" keywordseo="Reliance-communications">Reliance Communications</keyword> has sent a notice to <keyword id="6356812" type="ORGANIZATION" weightage="20" keywordseo="ericsson">Ericsson</keyword> asking the company to return ₹580 crores that the former had paid.</li><li>In May 2019, Reliance Communications had moved to the National Company Law Tribunal to file bankruptcy. </li><li><keyword id="9171" type="PERSON" weightage="20" keywordseo="Anil-Ambani">Anil Ambani</keyword>’s brother <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> had bailed him out by paying Ericsson the amount in March.</li></ul>Bankrupt Reliance Communications’ lenders might be <a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/reliance-communications-lenders-to-seek-rs-580-crore-from-ericsson-claiming-violation-of-ibc/articleshow/70338401.cms?UTM_Source=Google_Newsstand&amp;UTM_Campaign=RSS_Feed&amp;UTM_Medium=Referral">sending a notice</a> to Ericsson asking it to pay back ₹580 crores, which it had paid under Supreme Court’s order. According to sources, the payment made to Ericsson comes under ‘preferential transaction’ under the Insolvency and Bankruptcy Code. And, that Ericsson is liable to pay it back. A preferential transaction is where one creditor receives payments ahead of others. During bankruptcy proceedings, the process assigns a rank to each creditor and decides how much and when it would pay each of them. These creditors include banks and other lenders, in addition to vendors and others that RCom has to pay back. If Ericsson does to agree to pay it back, the lenders might also taking the legal route to force it. In May 2019, Reliance Communications had moved to the National Company Law Tribunal to file for bankruptcy. It had saddled a total <keyword id="44647" type="ORGANIZATION" weightage="20" keywordseo="debt">debt</keyword> of ₹46,000 crore, and had been trying to sell assets to pay off some of it. In February, the Supreme Court directed Anil Ambani-owned Reliance Communications to pay Ericsson the dues it owed. It had also said that Ambani would go to jail unless the company clears its dues. At this juncture, Anil’s elder brother and billionaire Mukesh Ambani had bailed him out, just in the nick of time.

RCom’s lenders will ask Ericsson to pay back ₹580 crore, says report

<a href="http://www.businessinsider.in/searchresult.cms?query=Reliance+Communications">Reliance Communications</a> said today that it has sold over 150 residential flats in Navi Mumbai for Rs 330 Crores. The revenue will be used to repay the company’s huge debt. 
 
"<a href="http://www.businessinsider.in/searchresult.cms?query=Reliance+Communications">RCom</a> has already received more than 50% of the sale proceeds, and the balance amount will be realised during the current financial year, upon completion of documentation, etc. presently underway," the company said in a statement. 
 
The huge sale is part of the company's strategy to monetize <a href="http://www.businessinsider.in/searchresult.cms?query=real+estate">real estate</a> to reduce it’s overwhelming debt. 
 
Image credit: Indiatimes

You Searched For "Reliance communications" and got 9 results

Reliance Communications is looking to merge with Sistema Shyam

BI India Bureau

Reliance Communications is eyeing Sistema Shyam Teleservices

BI India Bureau

Reliance Communications Signs 7-year Agreement With Ericsson For $1 Billion

Purba Das

The rise and fall of Anil Ambani’s Reliance Communications

RCOM Shares fall 2.2% After Launching Share Sale To Institutional Investors

BI India Bureau

Reliance Communications conforms to TRAI rule, would make Free Basics a paid service

BI India Bureau

Bharti Airtel treads where Reliance Jio is measuring its steps – RCom’s assets

Sanchita Dash

RCom’s lenders will ask Ericsson to pay back ₹580 crore, says report

BI India Bureau

RCom sells flats in Navi Mumbai for Rs. 330 Crores to repay debt

BI India Bureau

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