Reliance Capital to raise Rs 6,000 crore from Reliance Nippon Life Asset Management Limited stake monetisation

Anil Ambani owned Reliance Capital Ltd said that it signed binding definitive agreements with Nippon Life Insurance, one of the largest life insurance companies in Japan to increase its stake in investment management firm Reliance Nippon Life Asset Management Limited (RNAM) to 75%. Reliance Capital said that it will receive Rs 6,000 crore from the […]

RCom completes sale of assets worth Rs 2,000 cr to Reliance Jio

Reliance Communications Limited (RCOM) said it has completed the sale of assets worth around Rs 2,000 cr to Reliance Jio Infocomm under the broader asset sale agreement. The Anil Ambani company did not clarify how much money was raised via the sale. RCom sold what it calls ‘media convergence nodes’ or MCNs and related infrastructure […]

Anmol Ambani impresses dad with his change mantra; nominated to two more boards

Anil Ambani today praised his son Anmol Ambani for bringing about a “cultural change” in his business group, and said the 26-year-old has been added to the director boards of two more of his group companies. Anmol Ambani will join the director boards of Reliance Nippon Life Asset Management and Reliance Home Finance. It was […]

RCom confirms sale of telecom assets to Reliance Jio

Reliance Jio, the firm led by Mukesh Ambani, will walk away with most of the telecom assets of Reliance Communications, led by Mukesh’s brother Anil. Rcom said it has “signed definitive binding agreements with Reliance Jio Infocomm Limited for sale of Wireless Spectrum, Tower, Fiber and Media Convergence Node (MCN) assets.” The Anil Ambani company […]

Anil Ambani announces the end of Reliance Mobile

Anil Ambani, who warned about the possibility of the emergence of a ‘monopoly’ in Indian telecom three months ago, today said he was hanging up on his consumer telecom business. Ambani, younger brother to Mukesh Ambani — the chairman of Reliance Industries — said the mobile telephony business had changed into a new beast, and […]

RCom lenders get first round of bids for spectrum, fiber and assets – report

The lenders of Reliance Communications have got initial bids for the company’s assets from the three big telecom companies in India, CNBC TV18 reported, quoting banking sources. The Anil Ambani Group company is under the control of its lenders after it ran aground due to high debt load and the emergence of 4G services. Three […]

RCom says majority of lenders oppose China bank’s insolvency petition

Reliance Communications, the embattled telecom service provider from the Anil Ambani stable, said a majority of its lenders opposed the move by China Development Bank to move ahead with insolvency proceedings on the company. “At a Committee of Financial Creditors Meeting on 29 November 2017, a majority of Reliance Communications’ lenders, foreign and Indian, aggregating […]

After DTH, RCom to shut down GSM operations

Reliance Communications, the telecom arm of the Anil Ambani Group, has got moving on its announced strategy of becoming a 4G-only operator by shedding its GSM and 3G operations. According to industry sources, the company has been re-allocating its staff to the 4G division and gradually switching off GSM cell sites. The GSM network could […]

Reliance Communications says MTS merger to be closed in 2 weeks, gets DoT nod

Reliance Communication Ltd said it received the approval of Department of Telecommunication (DoT) for its merger with Sistema Shyam Teleservices Limited or SSTL, which runs MTS branded services in India. With this, the Anil Ambani Group company has received all the major regulatory approvals for the merger. The closure of the transaction is expected by […]

RCom to shut down 2G GSM network in Gujarat

Reliance Communications said it has asked subscribers in Gujarat to move to its 4G network as its 2G spectrum in the state is expiring at the end of this month. “The Company has initiated migration of its customers in Gujarat circle to an all 4G network, prior to expiry of 2G spectrum in that circle […]

Anil Ambani’s Reliance Infra sells transmission assets to Adani

Following on the heels of its announcement to sell its transmission assets to Adani Group, Reliance Infrastructure today said it has signed a share purchase agreement with Adani Transmission for the sale of 100% of its Western Region System Strengthening Scheme Transmission Assets. “SPA for Parbati Koldam Transmission Company Limited (PKTCL) shall be executed upon […]

Anil Ambani Group sells 2 TV channels, 59 FM stations to Zee

Subash Chandra’s Zee Group is buying the general entertainment channels and FM radio business of the Anil Ambani group. Because of lock-in provisions, the acquisition of 59 FM radio licenses will be done in two stages. The FM channels are being broadcast under the brand “92.7 BIG FM”, reaching to 45 cities, 1200 towns and […]

RCom to rebrand Reliance Digital TV as Chois HD?

Anil Ambani group’s Reliance Digital DTH may be rebranded to ‘Chois HD’, according to a twitter user, who also tweeted some photographs of the upcoming brand. Reliance Communications’ Reliance Digital is arguably the weakest candidate among the five private companies that compete in India’s DTH space. The DTH business is dominated Dish TV, Tata Sky, […]

Anil Ambani’s Reliance Infra to make Rafale jet parts in India under JV with Dassault Aviation

Reliance Anil Ambani group said itś unit Reliance Aerospace entered into a joint venture with Dassault Aviation, a French aircraft manufacture. The partnership between Reliance and Dassault will also focus on promoting Research and development projects under the IDDM program (Indigenously Designed, Developed and Manufactured), a new initiative of India’s Defence Minister Manohar Parrikar. The […]

WATCH LIVE: Anil Ambani speaks at Reliance Communications AGM

Days after elder brother Mukesh Ambani caused an earthquake in India’s telecom space with his speech at his company’s annual general meeting, younger brother Anil is all set to address his shareholders in a few moments. Reliance Communications is holding its annual shareholder meeting in Mumbai today. Ambani’s speech is to be preceded by an […]