Mukesh Ambani saved his younger brother Anil from imprisonment by paying money owed by him to Ericsson. The news broke at the eleventh hour of the deadline for Anil’s Reliance Communications to clear Rs 580 crore due to the Swedish equipment maker.

Industrialist Anil Ambani paid his dues to the Swedish telecom giant Ericsson one day before the Supreme Court deadline with the help of his brother and India's richest man Mukesh Ambani.

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.

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 Reliance Communications (RCOM) and its affiliates.

Shares of Reliance Communications (RCOM) zoomed over 30 per cent after Reliance Group's Chairman Anil Ambani on Tuesday announced that following restructuring, the company will reduce its debts by Rs 25,000 crore to Rs 6,000 crore.

Telecom major Reliance Communications (RCom) Chairman Anil Ambani has voluntarily decided to forego his salary and commission from the company during the current financial year as part of its "strategic transformation programme", RCom announced on Wednesday.

Four telecom companies -- Reliance Jio, Reliance Communications, Aircel and Tata Teleservices -- on Monday met the inter-ministerial group (IMG) formed to look into the dwindling fortunes of the sector.

Reliance Communications (RCOM) has got approval of the SEBI, BSE and NSE for the proposed de-merger of its wireless division into Aircel, the company said on Wednesday.