With the help of funds from its internal accretions and the foreign exchange proceeds, Reliance Communications intends buying back foreign currency convertible bonds (FCCBs) at a mark down, depending upon the central bank approval.
A tender offer, for repurchasing the bonds for cash at a discount, has been issued by the company to all its bond holders.
In a significant move, country's second largest mobile-phone operator, Reliance Communications (RCom) has decided to repurchased US $ 5 Million (about Rs 25.26 crore) foreign currency convertible bonds (FCCBs) at discount from the international markets.
In a disclosure to the Bombay Stock Exchange, the Mumbai based company, owned by Anil Ambani said that it has bought back 50 zero coupon FCCBs aggregating Rs 25.26 crore.
The filing further added that the repurchased bonds are expected to extinguish on April 15, 2009.
For the third time in the last four months, GSM have surpassed the earlier record pertaining to the highest number of new additions made a single month - this time, crossing the 10-million new subscribers' mark!
In order to take the lead in offering the best value for US to India calling, Bharti Airtel, Asia's leading integrated telecom services provider, on Thursday launched the never before calling rate of 1 cent a minute on its online calling card service airtelcallhome. com, with the name of IndiaOne offer.
Aircel, the telecom player in India, with majority stakeholder Malaysian telecom major Maxis Communications, has announced the launch of its GSM mobile services in Mumbai.
With a subscriber base of over 1.8 lakh, Aircel, the fifth largest service provider, rolled out its 17th circle in Mumbai.The company has launched GSM services around 6 circles within past two months.
According to a report, the company has invested over Rs 550 crore for launch of services in the Mumbai circle.
As per the reports by Business Standard, Aircel Cellular is working on plans to expand its presence in India, proposing to put in a $5 billion investment over the next three-year period.
Initiating its operations in Mumbai on Friday, the GSM service provider - with a 70 percent stake held by Malaysian telecom giant Maxis Communications – has dispelled hearsay about its plans to get hold of the city’s oldest mobile company, Loop Mobile.
With the help of funds from its internal accretions and the foreign exchange proceeds, Reliance Communications intends buying back foreign currency convertible bonds (FCCBs) at a mark down, depending upon the central bank approval. 
In a significant move, country's second largest mobile-phone operator, Reliance Communications (RCom) has decided to repurchased US $ 5 Million (about Rs 25.26 crore) foreign currency convertible bonds (FCCBs) at discount from the international markets.
For the third time in the last four months, GSM have surpassed the earlier record pertaining to the highest number of new additions made a single month - this time, crossing the 10-million new subscribers' mark! 
In order to take the lead in offering the best value for US to India calling, Bharti Airtel, Asia's leading integrated telecom services provider, on Thursday launched the never before calling rate of 1 cent a minute on its online calling card service airtelcallhome. com, with the name of IndiaOne offer. 
Aircel, the telecom player in India, with majority stakeholder Malaysian telecom major Maxis Communications, has announced the launch of its GSM mobile services in Mumbai. 
As per the reports by Business Standard, Aircel Cellular is working on plans to expand its presence in India, proposing to put in a $5 billion investment over the next three-year period. 
