NEW DELHI: The proposed merger of Reliance Communications wireless business and Aircel is clouded with more uncertainty with the Department of Telecommunications setting the Supreme Court's go-ahead a condition for it to approve the deal. The department, though, is close to clearing the merger of Sistema's Indian business with RCom, people aware of the process said.

The SC had earlier this year threatened to cancel Aircel's licences if the top executives of its Malaysian parent, Maxis Berhad, continued to evade Indian courts over a case where they were accused of bribing politicians and officials.

Reliance Communications’ Unlimit today announced a strategic alliance with Chinese telecom gear maker Fibocom to design and manufacture modules for wireless communications and develop internet of things (IoT) solutions. Unlimit said the number of connected devices in India is projected to rise from 200 million today to 3 billion by 2020, and nearly every part of the economy will be positively impacted by IoT.

Reliance Jio added nearly 5 million users ( 4,786,324 subscribers ) and controlled 9.94 per cent of the telecom market in May, shows the latest report by the Telecom Regulatory Authority of India (Trai).

In May, Airtel led in terms of overall telecom market share, with 23.59 per cent subscribers. It was followed by Vodafone with a 17.86 per cent share, and Idea with 16.62. Reliance Jio was a distant fourth with 9.94 per cent subscribers.

Reliance Communications (RCom) has sought relaxation in cross-holding norms so that companies can sell equity to existing telecom operators.

Under the current unified licencing (UL) regime introduced in 2013, telecom service providers are barred from holding either direct or indirect stake in other incumbents providing services in the same area.

Even as the National Company Law Tribunal (NCLT) takes a call on the RCom-Aircel merger later this month, it may consider an objection filed by a subsidiary of GTL against Aircel, an operational creditor. Meanwhile, lenders to Reliance Communications (RCom) will meet the firm’s management on Friday to review the telco’s financials. Chennai Network, a subsidiary of GTL, is believed to have objected to the merger in January this year. This was on the grounds that Aircel has not received an NOC (no objection certificate) from it for the merger with RCom, sources told FE. RCom is understood to have received NOCs from its lenders.

NEW DELHI: The troubles for Anil Ambani's telecom venture -Reliance Communications (RCom) -appear to be compounding. The loss-making company, which had earlier sought deferment in debt servicing obligations from banks, has approached the telecom ministry to surrender a part of its spectrum holdings in the 1,800-MHz frequency, sources said.

The company has also sought a refund of some of the payments, which have been made, the sources added.

Shares of Reliance Communications today surged over 6 per cent after the company said it has started the process to monetise its real estate assets in Delhi and Mumbai as part of efforts to pare debt. The stock, after a positive opening, gained 5.82 per cent to Rs 20.90 on the BSE. On the NSE, it went up by 6.34 per cent to Rs 20.95.

Mumbai, June 20: Reliance Communications (R-Com) has started monetising its real estate assets in New Delhi and Navi Mumbai, a move that could bring down its debt by Rs 8,000-10,000 crore.

The Anil Ambani-company is already in the process of reducing its debt by Rs 25,000 crore from two transactions - the merger of its wireless business with Aircel and a 51-per-cent stake sale in its tower assets to Brookfield Infrastructure of Canada.

Mumbai: Reliance Communications Ltd, part of Anil Ambani-led Reliance Group, has invited offers to sell or jointly develop 133-acre Dhirubhai Ambani Knowledge Centre (DAKC) located in Navi Mumbai.

DAKC, an information technology (IT) park, has a development potential of 13 million sq.ft, including a captive residential area. So far, around 2 million sq.ft has been developed, as per a newspaper advertisement by the company.

Anil Ambani-owned Reliance Communications' (RCom) Rs 11,000-crore deal to sell its tower business to Canada's Brookfield Infrastructure is nearing closure and is likely to be taken up by the Union Cabinet in the next couple of weeks.

RCom had announced signing of the binding agreement with Brookfield in December 2016 and sources said it has got almost all approvals for the said transaction, including that from the Competition Commission of India (CCI), Security and Exchange Board of India (Sebi), National Stock Exchange (NSE), BSE, corporate registration and shareholders.

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