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RCOM’s decision to monetise wireless assets a good development: SBI Chairman

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7 years ago

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New Delhi, Dec 29 (IANS) A day after Reliance Communications (RCOM) announced it was selling its wireless assets to Reliance Jio, State Bank of India Chairman Rajnish Kumar on Friday termed it a good development and would hopefully set an example for other promoters.

“It is a very good and welcome development. The banks have been fully protected and no loss is expected. Despite the fact that there is a stress in the telecom sector, I am hoping that this will set a very good example for the other promoters also of the companies which are under stress,” Kumar told BTVi in an interview.

Reliance Jio Infocomm (RJIL), a subsidiary of Reliance Industries Limited, on Thursday announced signing of a “definitive agreement” for the acquisition of specified assets of RCOM and its affiliates.

Consequent to the agreement, Jio or its nominees will acquire assets under four categories — towers, optic fibre cable network, spectrum and media convergence nodes — from RCOM and its affiliates, Jio said in a statement on Thursday.

RCOM’s assets which were put up for monetisation include 122.4 MHz of 4G Spectrum in the 800/900/1800/2100 MHz bands, over 43,000 towers, around 1.78 lakh km of fibre with pan-India footprint and 248 media convergence nodes, covering five million sq ft used for hosting telecom infrastructure.

Reliance Group Chairman Anil Ambani had on Tuesday said the company has achieved full resolution of Reliance Communications’ debt, reducing it by Rs 25,000 crore to Rs 6,000 crore by monetising assets.

RCOM bonds jumped from 34 cents to 55 cents on announcement of asset sales to Jio, according to industry sources.

“RIL’s acquisition of RCOM’s wireless telecom infrastructure, while not entirely surprising, does bring synergies for RIL’s telecom business which currently has lease/sharing arrangements with RCOM for some of its existing infrastructure – spectrum, towers and optic fibre backbone,” analyst Morgan Stanley said in a report.

Maintaining its upward trajectory RCOM shares were trading at Rs 34.98 per share, up 12.98 per cent at 12.37 p.m. at the BSE.

–IANS
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Apple is giving a huge discount on its gadgets: Details inside

Published

3 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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