CBI quizzes RCom officials
Posted by admin on Feb 13, 2011 | Leave a Comment
The Central Bureau of Investigation (CBI), probing the multi-crore 2G spectrum scam, is questioning officials of Reliance Communications after alleged links between the company and Shahid Balwa’s Swan Telecom emerged.
Balwa, in his letter to the CBI, has acknowledged that Reliance Communications helped him set up the business. He said it was done with the help of lawyer Anand Bhatt, who died in Mumbai 26/11 attack....
Anil Ambani group identifies rogue brokers, seeks Sebi action
Posted by admin on Feb 11, 2011 | Leave a Comment
The Anil Ambani group today said it has identified the stockbrokers behind the spread of malicious rumours and “baseless sensational charges” against it and sought immediate action by Sebi against the perpetrators.
The group said these brokers were sending out mass emails and SMSs and were also making large-scale voice calls with baseless and sensational charges against its firms.
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Reliance ADAG says it is a victim of ‘bear cartel’
Posted by admin on Feb 10, 2011 | Leave a Comment
Hit by a massive sell-off in stocks of various group companies, Reliance Anil Dhirubhai Ambani Group today said it is a victim of a bear cartel that has caused a market value loss of over Rs 3 lakh crore across the infrastructure sector in the past two weeks.
A day after the group’s stocks fell by up to 19 per cent, ADAG Group Managing Director Gautam Doshi said that the group has written...
ADAG increases stake in Fame India to 15.77 pc
Posted by vivek on Jul 07, 2010 | Leave a Comment
Anil Ambani group company Reliance MediaWorks on Wednesday said it along with two other group firms has further purchased 0.05 per cent stake in Fame India, hiking their combined stake in the multiplex chain to 15.77 per cent.
Three Anil Ambani Group (ADAG) companies — Reliance MediaWorks, Reliance Capital and Reliance Capital Partners –have acquired 16,196 shares, or 0.05 per cent stake, of Fame India...
RNRL to merge with Rel Power
Posted by vivek on Jul 04, 2010 | Leave a Comment
In a mega Rs 50,000-crore deal, Anil Ambani group announced merger of RNRL with another group firm Reliance Power, which would now become a direct beneficiary of the gas deal signed with Mukesh Ambani- led Reliance Industries.
As part of the all-stock deal, Reliance Power will give one of its shares for every four held in RNRL.
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Rel Power, RNRL merger on the cards
Posted by vivek on Jul 02, 2010 | Leave a Comment
Reliance Power and sister firm Reliance Natural Resources will consider a merger on Sunday, continuing a spree of activity in companies controlled by billionaire Anil Ambani since the end of a high-profile gas supply dispute with his brother.
Shares in Reliance Power, valued at $8.75 billion, closed up 3.3 per cent, while Reliance Natural shares, with a market capitalisation of $2.3 billion, ended down 1.9 per cent...
ADAG becomes country’s third most valued biz house
Posted by vivek on Jul 01, 2010 | Leave a Comment
Anil Dhirubhai Ambani Group’s market valuation soared 14 per cent in June quarter, the most among India’s top five business houses, making it the third most valued group in the country.
Anil Ambani-led Reliance ADAG’s market capitalisation was at Rs 1,42,380 crore for the three-month period ended June 30, 2010, higher by about 14 per cent compared to March quarter.
The seven listed companies of the...
RCom acquires Digicable in all-stock deal
Posted by vivek on Jul 01, 2010 | Leave a Comment
Anil Ambani group firm Reliance Communications (RCom) today announced acquisition of Digicable, the country’s largest cable TV service provider, in an all-stock deal.
The board of RCom approved the proposal for the acquisition in a meeting held today, the company said in a statement, but did not disclose the value of the deal.
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Reliance Comm, GTL Infra shares up after tower deal
Posted by admin on Jun 27, 2010 | Leave a Comment
Shares in Reliance Communications rose as much as 6.4 percent on Monday after India’s No.2 cellular carrier announced an agreement on Sunday to offload its telecoms towers to GTL Infrastructure in a deal that a source said would decrease its debt by about $3.9 billion.
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Anil Ambani, GTL in biggest home deal
Posted by vivek on Jun 27, 2010 | Leave a Comment
In what is seen to be India’s biggest domestic deal, the Anil Ambani-led Reliance Communications (RCom) separated the tower business of Reliance Infratel — its 95 per cent subsidiary — and merged it with Manoj Tirodkar’s GTL Infrastructure for $11 billion (Rs 50,000 crore) on Sunday.
“The boards of RCom, Reliance Infratel and GTL Infrastructure today in-principle approved a Rs 50,000 crore deal,” an RCom...
