Shares of telecom service providers were in focus with all frontline stocks like Bharti Airtel, Idea Cellular, Reliance Communications (RCom), MTNL and Tata Teleservices (Maharashtra) up between 2% and 8% on the BSE.

At 10:40 am; the S&P BSE Telecom index, the largest gainer among sectoral indices, was up 1.85% as compared to 0.15% rise in the benchmark S&P BSE Sensex.

MUMBAI: Reliance Communication (RCom) expects to complete three proposed deals, including a merger with Aircel, by the middle of 2017.

The Anil Ambani-led telecom company agreed to sell a 51% stake in Reliance Infratel, the company’s tower unit, to Canada’s Brookfield Group for Rs 11,000 crore.

MUMBAI: Even as the special CBI court has dropped all charges against the Maran brothers in the 2G case, the fate of the merger deal between Reliance Communications (RCom) and Aircel still depends upon the outcome of the Supreme Court order on Friday as the trial court had segregated the trial against the two accused Malaysian nationals - Ralph Marshall and T. Ananda Krishnan from that of the Maran brothers. Dayanidhi Maran is a former Union Minister and Kalanidhi Maran runs the Sun TV network.

Mumbai: A group of private equity (PE) and hedge funds representing minority shareholders of Reliance Infratel Ltd, the telecom tower arm of Anil Ambani’s Reliance Communications Ltd (RCom), have demanded that RCom buy their stakes back before going ahead with its majority stake sale to Brookfield Infrastructure Group, two people aware of the development said on condition of anonymity.

Reliance Communications Ltd (RCom) said it has signed a binding agreement with Brookfield Infrastructure Group to sell its tower assets.

It will receive an upfront payment of Rs11,000 crore, besides ‘B’ class non-voting shares in the tower company.

Moody's Investors Service on Thursday said that Reliance Communications' ratings will "remain on review for downgrade" despite the company signing an agreement with Canada-based Brookfield Infrastructure to sell its tower assets.

Reliance Communications' (RCom's) "B1 corporate family and senior secured ratings remain on review for downgrade despite signing a binding agreement with Brookfield Infrastructure (unrated) in relation to the sale of RCom's tower assets," a Moody's statement said.

MUMBAI: The Brookfield Group is set to sign as early as Wednesday a definitive agreement with Reliance CommunicationsBSE 8.70 % to buy a majority stake in the Anil Ambani-controlled telecoms company’s tower unit for about Rs 11,000 crore.

The companies signed a non-binding pact on the transaction on October 14. The deal values the tower assets at more than Rs 21,500 crore. As per the understanding, the assets of RCom’s tower unit, Reliance Infratel, will be transferred to a special purpose vehicle.

Three telecom companies lost a combined R4,288 crore in market capitalisation on Thursday after Reliance Industries chairman Mukesh Ambani said Reliance Jio Infocomm (RJio) would extend its free offers till March 31, 2017.

Shares of telecom majors such as Bharti Airtel, Idea Cellular and Reliance Communications fell between 1.7% and 5.9%.

In a major relief to Anil Ambani-led Reliance Communications, the Supreme Court on Tuesday dismissed the income tax department’s appeal seeking to tax the proceeds of its $1.5-billion foreign currency convertible bonds (FCCBs) issued by the telecom firm nearly a decade ago.

While the company said the apex court has quashed a “contingent tax liability of RCom for about R4,800 crore”, the I-T department in its appeal had claimed a tax liability of R2,236.01 crore for assessment year 2007-08.

New Delhi: In an attempt to counter Reliance Jio’s unlimited free voice, Reliance Communication on Tuesday announced unlimited voice plan at Rs.149 for all its customers. The plan also includes 300 MB of data usage, indicating that the company is adopting bundling of voice and data.

“The ‘149 Unlimited’ Plan, available across the 2G, 3G and 4G technology platforms, is targeted at incentivizing 2G, 3G and 4G handset-owners across India to move to the R-Com network.

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