A new Supreme Court order burdens telecom companies with additional payments to the government. Already highly leveraged, these companies will put additional stress on banks.
A settlement with shareholders such as HSBC Daisy Investments improves R-Com’s chances of proceeding with its deal with Reliance Jio, but the Ericsson matter needs to be resolved too.
Even as heavy consolidation in the telecom space signals more job losses to come, the Department of Telecom says it is working on opening up new job opportunities.
The National Company Law Tribunal’s Mumbai bench admitted three petitions by Ericsson to start bankruptcy proceedings at Anil Ambani’s Reliance Communications.
