HOME > BUSINESS > RCom says looking to refinance various payments till September

RCom says looking to refinance various payments till September

Anil Ambani Group’s Reliance Communications said it was in talks with its lenders and partners to put off some of the instalment payments that the company had to pay until the completion of its merger with Sistema Shyam Teleservices and Aircel Cellular by September this year.

“RCom is presently engaged in discussions with its lenders to obtain their requisite consent for the two transactions and to refinance scheduled instalments falling due in the interim period up to 30 Sept 2017.

“All our vendors and partners are working with the company and they are fully aligned to the current market situation and our strategic focus on getting the transactions completed,” CEO Gurdeep Singh said.

Singh was responding to questions based on media reports that the company was having trouble paying interest on its loans and compensating its vendors and suppliers.

It also blamed the competitive intensity brought on by Reliance Jio for the current state of the company, as well as the larger industry, and urged the government to take steps to relieve the burden on the industry.

The company has seen its cash situation deteriorate in the last few months as many subscribers switched from its paid services to free services offered by Reliance Jio, much of it using RCom infrastructure.

Asked if it had not contributed to the situation by allowing Jio to ride on its towers and spectrum, Singh said Jio was always free to offer its services at whatever prices it saw fit, and would have created its own infrastructure if companies like RCom had denied its offer for partnership.

On the other hand, said Singh, the Jio partnership will enable the company to expand its 4G offerings in the future at very low infrastructure costs.

 

 

Follow ULTRA.news
Reliance Jio tops in user satisfaction, but call drop concerns remain Percentage of customers giving 4 or 5 starsReliance Jio users are a happier lot than customers of other services, but call drops and network availability remain key concerns, according to a survey conducted by a market research firm Velocity MR.The firm conducted a study...
Vodafone India offers unlimited downloading for 5 hours at Rs 29 Taking a leaf from new entrant Reliance Jio's playbook, Vodafone India has announced a 'truly unlimited' five-hour data pack for Rs 29.The pack, called Vodafone SuperNight, will work between 1 AM and 6 AM and is open for prepaid customers only. It will work on both 3G and 4G...
RIL stock up as Reliance Jio proves doubters wrong, avoids an April dip in subscribers Shares of Reliance Industries rose 3.5% today -- an extraordinary move for such a large company -- after it emerged that not only did the company not lose subscribers when it made the transition from free to paid services in April, it actually added a few million.The result ...
Reliance Jio launches extra data offer on some LYF handsets Reliance Jio, the 4G operator is now offering 20% extra data to those who are using its services using a LYF branded handset.Jio offers 20% extra data on certain LYF modelsIn other words, if you are eligible to get 1 GB of data per day, you will get 1.2 GB per day on a L...
RCom ‘respectfully disagrees’ with Fitch and Moody’s on its credit rating Anil Ambani-led Reliance Communications said it disagrees with the decision of agencies Moody's and Fitch to downgrade the company's credit rating based on its 'standstill agreement' with its lenders.Shares of RCom fell 4% to Rs 19.30 on the National Stock Exchange today ...
Sun TV could benefit from RCom’s financial troubles Newer equipment from Reliance Digital TV come with Chois HD 4K brandingSun Direct, the DTH arm of Sun TV, could end up benefiting from the financial troubles faced by Anil Ambani Group's Reliance Communications.Speaking to media yesterday, Reliance Communications top hon...
RCom formally assures lenders it will pay Rs 25,000 cr in four months Anil Ambani Group's telecom arm Reliance Communications said it has 'formally' communicated to its lenders that it will pay an amount of Rs 25,000 cr to them on or before Sept 30.The latest statement from the telecom operator comes as a way of reassuring investors and lenders...
Bharti Airtel to offer cheap 4G plans for all dongle users – report With new operator Reliance Jio snapping at its heels, incumbent Bharti Airtel has decided to slash its data prices for everyone with the introduction of new 4G dongle plans, Telecom Talk blog reported quoting unnamed sources.At present, Bharti Airtel does not offer any plan t...
Bharti Airtel slashes home broadband tariff ahead of Jio Fiber launch Ahead of the launch of Jio Fiber by Reliance, Bharti Airtel slashed its home broadband prices with a new set of cheaper plans.The new plans now offer up to 100% more high speed data benefits within the same monthly rentals, the company said. Existing customers will b...
Bharti Airtel could help Reliance Jio win Rs 2,000 cr from DoT Bharti Airtel's attempts to avoid paying "voice conversion charge" on the spectrum that it is purchasing from internet service provider Tikona Digital could end up unintentionally benefiting arch rival Reliance Jio.Reliance Jio was forced to pay around Rs 1,650 cr four ye...
Airtel, Idea and Vodafone close to network sharing deal Fierce competition from new entrant Reliance Jio is pushing the incumbent telecom operators Bharti Airtel, Reliance Jio and Vodafone India to accelerate negotiations to allow them to use each other's full networks.As of now, these operators only share 'passive' or 'dead' in...
Reliance Jio puts more 4G spectrum to use to increase speeds Reliance Jio, the 4G operator that has taken the market by storm, has deployed the extra spectrum that it bought last year, increasing the total spectrum in use in most markets by 20-25%.In most circles, Jio is operating with about 40-50 MHz of spectrum, and with the new sp...
Bharti Airtel to start refarming 2G spectrum for 4G this year India's largest telecom services company by revenue and spectrum holding, Bharti Airtel, will start diverting its 2G spectrum to add to its 4G network in the second half of the ongoing financial year, the company's CEO said.The move will help increase 4G capacity of the o...
Airtel Broadband to upgrade users to 40 Mbps V Fiber plans to beat Reliance Jio Locations of Airtel V Fiber servicesAirtel Broadband, India's second largest wired broadband service, will upgrade nearly all its DSL customers to its new 'V Fiber' vectorization technology that offers speeds of 40 Mbps, compared to 4-8 Mbps under the traditional ADSL 2 tech...
Bharti Airtel is successfully adopting the Reliance Jio model It is not every day that a new entrant forces the established players in the market to overhaul their business models. But Reliance Jio seems to be doing just that, and rivals like Bharti Airtel are proving to be quick, if slightly unwilling, learners.In the three months from...
Reliance Jio’s Fiber preview to start in Mumbai, Rs 4,500 security deposit – Report You Broadband plans in MumbaiMumbai will be the first city to get preview services of Reliance Jio's Fiber services, which will come with a monthly cap of 100 GB of high-speed data, India Today reported, adding that users will have to pay Rs 4,500 as a refundable security de...
Fitch Ratings upgrades Tata Motors on improving business performance JLR contributes most of the company's profitsFitch Ratings has upgraded its rating on Tata Motors by one notch, pointing to the automaker's improving business performance."The upgrade reflects the sustained improvement in TML's Indian automotive business over the last tw...
Reliance Jio to start trial services for fiber soon across India Reliance Jio, the biggest carrier of wireless data in the world, said it will expand beta trials of its fiber-to-the-home services in the 'next few months' across India.It has already started these trials in "a few locations", which would be expanded city by city. According t...
RCom shareholders approve Aircel merger The shareholders of Reliance Communications approved the demerger of the wireless operations of the company into Aircel Limited and Dishnet Wireless Limited, the Anil Ambani Group company said.The Scheme was also approved at a meeting called on the directions of the National ...
Why Reliance Jio will keep data prices low for 2 years: Credit Suisse explains Wireless data prices in India, which crashed from Rs 250 per GB to about Rs 10 per GB after the entry of Reliance Jio, will continue to remain under pressure for at least two more years, said analyst firm Credit Suisse.That is the minimum amount of time that the new entrant w...
AirAsia offers 15% off to Reliance Jio customers AirAsia said it will offer a 15% discount to all customers of Reliance Jio for flights booked this month for travel between Jun 20 to Sep 30."All Reliance Jio customers get 15% off on domestic and international flights," the airline tweeted.The booking has to be done us...
Complaints against telcos drop sharply as 4G takes off No of complaints against telcos in last three years. 2017 nos are annualizedComplaints against all telecom providers except Bharti Airtel dropped in 2016, possibly in reaction to the emergence of new operator Reliance Jio and the explosion of 4G data capacity.The total n...
Airtel to offer 2 GB/day for ₹349, 3.5GB for 999 to take on Reliance Jio Airtel will unveil cheaper data tariffs soonIndia's largest telecom services company by revenue -- Bharti Airtel -- is in the process of rolling out new plans including one that offers 2 GB of data per day at just Rs 349 in addition to unlimited calling for 28 days, according ...
Working Reliance Jio ‘DTH’ video uploaded by Gujarat-based test user the video of the so-called Jio DTHA video of a working Reliance Jio 'DTH' TV has been leaked by a Gujarat-based Youtube user, even as Airtel unveiled its own 'Internet TV' today.The Youtube user demonstrates a working set-top-box, complete with HD channels and various ot...
Reliance Jio launches Dhan Dhana Dhan offer with three times validity as Summer Surprise Reliance Jio is all set to relaunch its earlier 303 and 499 plan, but with three-times the earlier validity, according to sources.This would help it side-step issues around continuing with free services.UPDATE: The new offer will be called Dhan Dhana Dhan and will have ...