Who will buy RCom?
As for RCom, tower company Reliance Infratel will go to Reliance Jio for a deal worth around Rs 20,000-22,000 crore, which will be paid over a period of seven years..
Will Mukesh buy RCom?
New Delhi: Mukesh Ambani, the richest person of the country, is going to buy Reliance Communication under the debt burden. According to sources, the State Bank of India (SBI) has approved the resolution plan of RCOM. … Anil Ambani has a debt of Rs 33,000 crore on RCom. The lenders have claimed 49,000 crores.
Can RCom survive?
Under the resolution, 38 lenders of RCom can recover over 70% of their outstanding dues of Rs 33,000 crore secured debt, PTI reported citing unidentified sources. Meanwhile, Chinese banks are set to get Rs 5,500 crore under the resolution, which will clear over half of their principal dues.
Why RCom is increasing?
Shares of Reliance Communications hit their upper circuit on Monday, rising over 6 per cent, amid reports that Bharti Airtel, Reliance Industries and three others may bid for the assets of debt-ridden company.
What happened to MTS?
MTS India provided wireless voice, broadband Internet, messaging and data services in India. On 1 November 2017, MTS India merged with Reliance communication. The company was acquired by Reliance Communications (RCom) on 14 January 2016 in an all stock deal, in which SSTL received a 10% share in RCom.
Will Jio takeover RCom?
Reliance Jio is likely to buy out bankrupt telco Reliance Communications (RCom), under the Insolvency and Bankruptcy Code, with Bharti Airtel withdrawing its bids. … On request by Reliance Jio, RCom’s Committee of Creditors (CoC) has extended the deadline and has now decided to open the bid on November 25.
Is RCom closed?
Rcom has closed its telecommunications business in 2019 and filed for bankruptcy. In February 2019, the company filed for bankruptcy as it was unable to sell assets to repay its debt.
Did Jio buy RCom?
Jio is currently the sole tenant of its towers after RCom closed down operations. Reliance Jio last year signed an agreement to buy RCom’s assets including 43,000 telecom towers, 178,000 km of fibre network across the country, and valuable spectrum, for around Rs 25,000 crore.
Is it worth buying RCom shares?
RCOM is trading in the lower range of yearly prices. RCOM is trading in the lower range of the quarterly prices….Upside intraday target0.91Downside short term target0.83Upside mid term target0.93Downside long term target1 more row
Will RCom stock rise?
Reliance Communications share price rose 4.35% to the intraday high of Rs 0.72 compared to its previous closing price of Rs 0.69. Reliance Communications share price rose in early trade today following reports that the deadline to submit bids for the assets of the company and its 2 subsidiaries will end today.