RCom buyout spells synergy benefits, big savings for Jio
RCom buyout spells synergy benefits, big savings for JioSources have pegged the Jio-RCom all-cash deal size at roughly Rs 24,000 crore, which will help the Anil Ambani company repay part of its Rs 45,000 crore debt. Reliance Jio to buy RCom's wireless assets in $3.75 billion deal, says report
The two companies had announced late on Thursday that Reliance Communications, backed by businessman Anil Ambani, would sell all its spectrum, tower, fiber optic and other telecom infrastructure assets to Jio. Updates
Reliance Innoventures Private Limited (Promoter of Reliance Communications Ltd) has informed BSE regarding "Release of upto 33 crores promoter shares representing upto 11.93% of total issued capital."
RCom shares surge over 280% in last three weeks
RCom shares surge over 280% in last three weeks after Reliance Jio said it will buy a majority of RCom's wireless assets Press Release / Media Release
Reliance Communications Ltd Signs Binding Definitive Agreements with Reliance Jio Infocomm Limited for Sale of Valuable Wireless Spectrum, Towers, Fiber and MCNS. RCom shares extend rally on debt plan but unclear if all creditors on board
RCom had a net debt of Rs 45,000 crore at the end of October, putting it among India's most indebted companies
Reliance Communications: a zombie company amid a strong marketing push
A revealing series of tweets today showed just how aggressively the Reliance Communications marketing team is pushing the new narrative Anil Ambani delivered at the company press conference. Anil Ambani has announced the creation of a "new" B2B focused RCom, valued at Rs. 15,000 crore and debt free. The company will settle its large debts via the sale of its tower, fibre and spectrum assets (for which Reliance Jio, his brother Mukesh's venture, is reportedly first in line). The business, Anil said, will be based on a capex-light model and will generate sustainable cash flows, with 50% of revenue and 60% of operating profit coming from outside of India. In a coordinated effort, the series of messages went live on Twitter and other social media platforms, with the same hashtag, #Ambaniwalksthetalk. The tweets used the same messages across various user profiles. These bots and ostensibly paid tweets indicate how much brand and trust Reliance Communications needs to recover in the market and with investors. It seems to have worked in the short term, with the share price for the company rising by over 30% today. RCom's weak valuation score however indicates how much of this - growth, strategy, debt recovery - is up in the air, and right now RCom is rising on hope. Image: Karnika Kohli Debt reduction plan: The rise and fall of RCom's mobile business
It will also draw the curtains on a significant chapter in India's telecom history 