Rcome Shares Plunge After Aircel Merger Deal Collapses

Nirmal Singh Lotus Green

Nirmal Singh Lotus Green noted that Reliance Communications Chairman Anil Ambani was present with his son Anmol Ambani at the Reliance Capital AGM at Birla Matoshree, in Mumbai, India, on Sept 26, 2017.
According to news reports, shares of Reliance Communications plunged as low as 7.8 per cent in early figures that were recorded on Tuesday right after the company pull off the merger of its wireless arm with rival Aircel, who had issues about debt reduction plan.
Nirmal Singh would like to tally the exact figures of shares in RCom that were trading at Rs 17.90, down 6.77%, at 0400 GMT, after dropping to a low of Rs 17.70. Amid the hustle bustle in the industry the market shuts down on Monday due to a public holiday.
Reliance Communications said on Sunday it is reassessing debt repayment options after calling off the merger deal, citing regulatory delays and legal uncertainties.

Nirmal Singh Lotus Green finds that the debt has risen to around $6.8 billion. As of the temporary reprieve has been assigned to its banks, who have agreed to debt obligation which was a part of planned debt restructuring.
This reprieve was already predicted upon RCom which gave an advantage of reducing the debt by Rs 250 billion with a merger with Aircel. This would also give a benefit to the firm for selling the stake in its mobile masts arm to a unit of Canada’s Brookfield Asset Management.
RCom said on Sunday that it had agreed with Aircel to call off the merger due to regulatory delays and legal uncertainties. It is unclear whether the collapse of the RCom-Aircel deal will affect the Brookfield transaction.

What is RCom?
Reliance Communications Ltd, abbreviated as RCom is headquartered at Navi Mumbai, India. The company has brought in revolution in the digital industry by introducing plans like Reliance GSM, JIO with unlimited Internet and talk time. Moreover,   it is famous for providing other services like fixed line broadband and voice services, Direct-To-Home (DTH) services, and other areas in communication industry. It is a subsidiary of Reliance Anil Dhirubhai Ambani Group with as many as 85.4 million subscribers.

Nirmal Singh LotusGreen is delighted to inform that Reliance Communications is the sixth largest telecom operator in India

Reliance Communications Ltd. (stylised as RCom) is an Indian telecommunications company headquartered in Navi Mumbai, India. It provides GSM (Voice; 2G, 3G, 4G) mobile services, fixed line broadband and voice services, and Direct-To-Home (DTH) services, depending upon the areas of operation. Reliance Communications is the sixth largest telecom operator in India with 85.4 million subscribers, as of May 2017.[4] RCom is a subsidiary of Reliance Anil Dhirubhai Ambani Group.
Location: India

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