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RCom, in a BSE filing said, “The shareholders of Reliance Infratel Limited (RITL) – a subsidiary of Reliance Communication at their meeting held on April 29, 2017, have approved with 98% majority the scheme of arrangement for demerger of the tower division of the RITL into Towercom Infrastructure Private Limited (TIPL).”

RCom shareholders approve demerger of tower business 

Reliance Communication receives shareholder approval to demerge wireless business with Aircel

RCom said, “CCI&nbsp;has approved the proposed transaction involving the sale of the tower division of Reliance Infratel Limited, a subsidiary of RCom, which is to be carried out pursuant to a demerger of the tower division to Towercom Infrastructure Private Limited (Towerco)."

CCI approves RCom's demerger of tower division

Motilal Oswal, however,&nbsp;is confident that Idea will perform better.&nbsp;It&nbsp;said, "We upgrade Idea to&nbsp;Buy&nbsp;with a target price of Rs 120, implying 9x EV/EBITDA&nbsp;on FY19E for the combined entity. In our view, rich valuation is justified, as the&nbsp;expected recovery from FY19 could drive EBITDA CAGR (compound annual growth rate) of 18% over FY18-22."

Markets continue to dislike Idea-Vodafone merger as shares fall for second consecutive day 

RCom said, “The company has received an approval of the CCI for the proposed scheme of arrangement for demerger of wireless division of Rcom into Aircel Limited and Dishnet Wireless Limited (the scheme).”

After Sebi, now CCI gives nod to RCom-Aircel merger

In a BSE filing RCom said, "The company&nbsp;has received approval of the Securities and Exchange Board of India (SEBI), BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) for the proposed Scheme of Arrangement for demerger of the Wireless division of the Company into Aircel Limited and Dishnet Wireless Limited (the Scheme). "

SEBI approves Reliance Communications-Aircel deal; stock gains

Telecom Secretary's comments assume significance as India -- the world's second largest mobile services market after China -- is in the midst of massive consolidation with incumbent operators joining forces to take on aggressive newcomer Reliance Jio.

5 major telcos optimum for Indian market: Telecom Secretary

The Economic Times had reported that Tata Teleservices is in early talks with the merged Reliance Communication- Aircel and MTS to explore a possible acquisition, to give competition to Reliance Jio.&nbsp;

Not in talks with Tata Tele for merger, clarifies Reliance Communication

Since Jio's entry in September last year, the telecom operators are finding difficult to maintain their market share and churn profits.

Tata Tele likely to join hands with Rcom-Aircel and MTS, says report

On net loss, RCom said, "The company&nbsp;witnessed unprecedented competitive intensity.&nbsp;This was the first full quarter after Company’s complete shutdown of its profitable&nbsp;CDMA operations. Also, there was an increase in amortisation and interest expense aggregating Rs. 278&nbsp;crore on account of capitalisation of 850 MHz spectrum liberalisation fee."

RCom reports net loss of Rs 531 crore in Q3

Provided Reliance Jio sufficient PoI capacity to serve over 190 million customers, says Bharti Airtel

Annalisa Di Chiara a Moody's Vice President and Senior Credit Officer said,”The downgrade primarily reflects our expectation that RCom's leverage, as measured by consolidated debt/EBITDA (including Moody's adjustment for spectrum liabilities) will remain above 7x over the next 6-9 months while the company pursues regulatory, shareholder and debt holder approvals for its announced restructuring, including the de-merger of its wireless business and sale of its tower assets.”

Credit outlook under pressure if RCom doesn't reduce debt soon: Moody's 

Year of consolidation: Top five mergers and acquisitions in Indian businesses in 2016

Moody feels there is still lack of &nbsp;clarity on the cash flow generating capabilities of some of Rcom's remaining businesses, as the resulting leverage or cash flow positions following its restructuring can only be estimated within wide bounds.&nbsp;

Reliance Communications ratings under review for downgrade despite Brookfield deal, Moody's; shares flat 

"Department of Telecom has issued demand-cum-show cause notices to six private telecom companies on the basis of C&amp;AG Report No 4 of 2016, for four financial years ie 2006-07 to 2009-10 for a total amount of Rs 29,474 crore on account of licence fee (LF)," Telecom Minister Manoj Sinha today said in a written reply to Lok Sabha.

DoT issues demand-cum-show notices to 6 telcos for Rs 29,474 crore

Reliance ADAG on Tuesday announced the launch of their new venture in the Internet of Things (IoT) called UNLIMIT, which looking to offer enterprise companies across India complete IT solutions.

We target double-digit growth in the first two years, says Juergen Hase, CEO, Unlimit

Before Reliance Jio launched its operations officially on September 5, many analysts and rating agencies had warned the existing telecom companies to beware of the new entrant.&nbsp;

Idea Cellular's shares at one-year low; are other telcos in danger too?

The Indian rupee opened higher at 16 paise at 66.86 against dollar as compared to the previous close of 67.02.&nbsp;

Sensex rallies 250 points; Nifty crosses 8,800-mark

reliance-communication

The BSE Sensex shed 333 points to 37,972 levels while the 50-stock Nifty went down 91 points to 11,268 levels. Bank Nifty index crashed 387 points to 28,338 levels.

Sensex, Nifty slip on weak global cues; RCom, Indiabulls Real Estate, Bharti Airtel stocks dip

The BSE Sensex rose 76 points to 39,916 while the 50-stock Nifty added 23 points to 11,941 levels. The Bank Nifty index jumped 107 points to 31,489 levels.

Sensex, Nifty sustain pre-budget rally; RCom, ITI, IndusInd Bank stocks gain

RCom had moved the application to withdraw its challenge to the insolvency order after its board felt insolvency was the best course after failed attempts to revive the firm. 

NCLAT allows insolvency proceedings against Reliance Communication 

Reliance Communications Enterprises (RCE) held 49.06 crore shares in RCom amounting to 17.74 per cent stake, of which it had previously pledged 4.85 per cent.

Reliance Communications Enterprises pledges 12.50 cr shares of RCom with IndusInd Bank

Anil's heavily debt-laden Reliance Communications made a Rs 550 crore payment, including interest, to Ericsson just a day before expiry of the deadline set by the Supreme Court to clear dues or face a three-month jail term.

RCom shares zoom 10%; hit upper circuit after payment to Ericsson

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Reliance Communication

RCom shareholders approve demerger of tower business

Reliance Communication receives shareholder approval to demerge wireless business with Aircel

CCI approves RCom's demerger of tower division

Markets continue to dislike Idea-Vodafone merger as shares fall for second consecutive day

After Sebi, now CCI gives nod to RCom-Aircel merger

SEBI approves Reliance Communications-Aircel deal; stock gains

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Delhi Commercial LPG Policy: Rekha Gupta govt allows 1,800 19-kg cylinders daily for businesses | See priority list

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Don't panic! Centre committed to maintaining LPG supplies for households & essential sectors

West Asia Crisis: Domestic LPG supply govt's top priority, daily panic-bookings surge to nearly 89 lakh

Akasa Air introduces fuel surcharge from March 15: What it is & how it affects your ticket prices

2,554 Inspections in 2 Days: Yogi-led UP govt takes strict action against black-marketers