Aircel has become the latest victim in the highly-competitive telecom market in the country with the operator along with its units Aircel Cellular and Dishnet Wireless filing for bankruptcy in the National Companies Law Tribunal (NCLT), Mumbai after its lenders and shareholders failed to reach a consensus with respect to the restructuring of its debt. […]
Read More →Telecom major Idea Cellular on Wednesday reported revenue of Rs 65.5 billion in the third quarter ending December, losing it’s third spot by revenue share to Reliance Jio which reported Rs 68.8 billion revenue in the quarter. Idea revenue dropped 12.8 per cent compared Rs 75.1 billion in the previous quarter and Rs 87 billion […]
Read More →Reliance Jio Infocomm posted its first net profit since starting services, buoyed by strong subscriber additions and cost efficiencies, including sharply lower payments of interconnection charges. The Mukesh Ambani-owned company, which upended the market since its entry in September 2016 with its initially free voice and data offerings, posted a profit of 504 crore and […]
Read More →Pricing pressures and regulatory changes in the India wireless business continue to impact the operational performance of Bharti Airtel, which reported a 39 per cent year-on-year (y-o-y) drop in its December quarter net profit at Rs 3.05 billion. Consolidated revenues, which include the company’s Africa business, fell 13 per cent over the year-ago quarter to […]
Read More →The telecom regulator has slashed international termination charge (ITC) – paid by international operators to local networks that receive calls – by 43%, a move that will hurt revenue of India`s older operators reeling from ongoing brutal price wars. Incumbents Bharti Airtel, Vodafone India and Idea Cellular have asked the Telecom Regulatory Authority of India […]
Read More →The Telecom Regulatory Authority of India (Trai) has tightened the network connectivity rules by mandating a 30-day deadline for firms to ink interconnection pacts on a non-discriminatory basis. It has also fixed a daily penalty of up to Rs 100,000 per service area for violations. The ‘Telecom Interconnection Regulations 2018’ are to come into force […]
Read More →Mukesh Ambani’s Reliance Jio announced a deal on Thursday to acquire younger brother Anil Ambani-owned Reliance Communications’s (RCom’s) wireless infrastructure assets, including towers and spectrum, at an estimated price of Rs 20,000-24,000 crore. The historic deal between the brothers came on their father Dhirubhai Ambani’s 85th birth anniversary. The two companies have signed binding agreements […]
Read More →Anil Ambani-owned Reliance Communications (RCom) said on Tuesday it had exited the strategic debt restructuring (SDR) scheme of lenders by agreeing to sell its telecom towers, real estate and other assets, and getting a strategic investor in the “new RCom”, which would help reduce its debt by Rs 39,000 crore. The company expected to conclude […]
Read More →A Special Court on Thursday morning ruled that the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) had failed to prove charges of corruption, abuse of position, conspiracy, and money laundering against former telecom minister Andimuthu Raja, industry captains, including Essar promoters Ravi Kant Ruia and Anshuman Ruia, and former bureaucrats in the […]
Read More →The Indian Banks’ Association (IBA) has asked the government to allow telecom companies undergoing debt restructuring in schemes drawn up by the Reserve Bank of India to surrender liberalised spectrum. Any excess upfront payment associated with such spectrum should be refunded, it has argued. In a letter dated November 29 to Aruna Sundararajan, secretary, department […]
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