Reliance Communications Ltd (RLCM.NS)
BRIEF-Reliance Communications gets final approval from DoT for demerger of wireless business of Sistema Shyam Teleservices
* Gets final approval from DoT for demerger of wireless business of Sistema Shyam Teleservices Limited into co
* High debt, eroding profit forcing India telco consolidation (Adds analyst comment, context on telecom market)
* India's National Company Law Tribunal says to hear Reliance Communications, Ericsson case on Nov. 8 Further company coverage: (Reporting By Abhirup Roy)
MUMBAI, Oct 4 India's Reliance Communications said on Wednesday it had applied to a tribunal to withdraw a plan to spin-off its towers business, as a first step towards renegotiating the deal after ending plans to merge its wireless business with a rival.
BRIEF-Reliance Communications files application for withdrawal of scheme of demerger of tower business
* Says application for withdrawal of scheme of demerger of tower business under RITL been filed as on 3 October
MUMBAI, Oct 3 Shares of India's Reliance Communications tumbled as much as 7.8 percent in early trade on Tuesday to an all-time low after the company scrapped a proposed merger of its wireless arm with rival Aircel, raising doubts about a debt-reduction plan.
MUMBAI Reliance Communications is reassessing debt repayment options after a deal to merge its wireless arm with smaller rival Aircel was scrapped, dealing a fresh blow to the embattled Indian telecoms company.
* Bonds slip only marginally as subordination risk diminishes (Adds change in company's board, trader comment)
MUMBAI Embattled Indian telecom company Reliance Communications Ltd faced another setback on Sunday after a deal to merge its wireless business with smaller rival Aircel was called off, raising fresh doubts about its debt-repayment plans.
MUMBAI, Oct 1 Indian telecoms company Reliance Communications Ltd said on Sunday it had mutually agreed with smaller rival Aircel to call off a proposed merger of its wireless business, citing delays due to regulatory and legal uncertainties and interventions by various parties.