RCom completes sale of some assets to Reliance Jio for Rs 20 billion

Reliance Communications on Thursday said it has completed the planned sale of its media convergence nodes (MCNs) and related infrastructure assets, worth Rs 20 billion, to Mukesh Ambani-backed Reliance Jio Infocomm (RJIO).

The transaction entailed 248 nodes covering close to 5 million sq. ft. of the area, used for hosting the telecom infrastructure, all of which now stands transferred to Jio, RCom said in a statement.

"Reliance Communications Limited (RCOM) today announced the completion of the sale of its MCNs and related infrastructure assets, worth Rs 20 billion, to Reliance Jio Infocomm," the RCom statement said.

Earlier this month, Reliance Communications had reinstated bank guarantees worth Rs 7.74 billion with the telecom department ahead of the timeline set by the telecom tribunal, and had said that its Rs 250 billion asset sale plans are "on track".

Last year, Anil Ambani-owned Reliance Communications signed a pact with Reliance Jio for sale of wireless spectrum, tower, fiber and MCN assets - the proceeds of which were to be used to reduce debt.

Priyanka Chopra to Salman Khan: Influential Indians in Variety 500 List

PRIYANKA CHOPRA

The Quanitco star Priyanka Chopra is recognised by Variety as one of the most influential leaders in the global entertainment industry.Chopra has set up her own production company, Purple Pebble Pictures, which released “Ventilator,” a Marathi-language film in 2016.Chopra is also active philanthropically and is a global UNICEF Goodwill Ambassador for Child Rights.

ANIL AMBANI

Reliance ADA Chairman Anil Ambani also features in the Variety's 500 list. Anil Ambani became chairman and CEO of Reliance Group (aka Reliance ADA) in 2002 when Reliance Industries, a conglomerate formed by his father Dhirubhai Ambani, was split in two.

KARAN JOHAR

Indian Filmmaker Karan Johar features as one of the most influential leaders in the global entertainment industry in Variety's List. As per Variety Johar’s Dharma Productions is one of India’s leading production houses.

SALMAN KHAN

Actor Salman khan is also mentioned  as one of the most influential leaders in the global entertainment industry in Variety's List. As per Variety, Salman Khan is one of the unrelated Khan triumvirate comprising Aamir and Shah Rukh that has been ruling the Bollywood box office for decades

Reliance Communications gets bondholders' nod for asset sale to Jio

India's Reliance Communications Ltd (RCom) said on Wednesday its bondholders had approved their asset-sale plan, that includes the sale of certain assets to upstart rival Reliance Jio Infocomm Ltd.

Holders of the debt-laden telecom operator's $300 million bonds have also approved the monetisation of other real-estate assets, RCom said in a statement.

RCom also got approval for the partial release of noteholder collateral to help the sale get underway, the company said, adding the proceeds would be used for partial redemption of notes.

RCom last week had moved the Supreme Court in a desperate attempt to complete the asset sale and to also avoid going to the National Company Law Tribunal, according to a report in The Economic Times.

Earlier this month, the firm lost its appeal in the Bombay High Court against an arbitration tribunal ruling in the Ericsson case, where the Swedish company sought payment of unpaid dues.

Anil Ambani-controlled RCom got shareholders' nod in February to sell its wireless assets to Reliance Jio, the telecom unit of Mukesh Ambani-led Reliance Industries Ltd.

Reliance Big TV offer: 500 channels free for 5 yrs, HD ones for 1 year

Anil Ambani-owned direct-to-home service provider Reliance Big TV is now offering free access to up to 500 channels at a zero effective cost, along with one year of free subscription to premium channels.
To avail of the Reliance Big TV set-top box at effectively zero cost, you need to book the DTH from the company’s official portal by paying a booking amount of Rs 499. Another sum of Rs 1,500 needs to be paid once the DTH is delivered, for installation and other services.
However, the total sum of Rs 2,000 is refundable after successful completion of three years in the form of recharge.

According to terms and conditions of the offer, you need to do a monthly recharge of Rs 300 from second year onwards for two consecutive years. At the end of three years, the company would refund a sum of Rs 2,000 in the form of recharge.
The offer comes bundled with free access to up to 500 free-to-air channels for five years and one year of free subscription to paid channels.

2G scam; RCom's future, leadership: Top quotes from Anil Ambani's interview

The "new" Reliance Communications (RCOM) will be "capex light" and emerge as India's largest B2B (business-to-business) entity that is "focussed on the global and enterprise business", according to Reliance Group Chairman Anil Ambani.

It will also have a "strong strategic partner coming in the next few months", Ambani said in a wide-ranging interview to The Economic Times, his first in a decade.

"New RCOM will be stronger and be India's largest B2B business. It is capex light and we are very conservatively structured... The IDC (international data centres) business is set to explode. There is a huge opportunity -- and as an opportunity for India grows with $400 billion in reserves and good ratings, we will grow as well," Ambani said.


Anil Ambani gave an interview, his first in 10 years, to The Economic Times on Wednesday. Here are the top 10 quotes from the interview:

On 2G verdict: Truth prevails. No individual or corporation should undergo this humiliation, slander, damage to individual and corporate reputation. The reputation that you have built over years and years can be broken in an instant.

On seeking compensation over 2G verdict: You cannot rule out anything. What will you do, when will you, how can you do? There are so many constituents in the 2G constituency. Somebody does something, there is a collateral damage from the other side. It is complex, not simple as yes or no, it is not black and white.
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