Jio Effect: Reliance Communications Posts Third Consecutive Quarterly Loss

Mumbai: Indian telecoms carrier Reliance Communications (RCom) posted its third straight quarterly loss on Saturday as its heavy debt load and a price war triggered by an upstart rival continued to weigh on sales and profit. RCom, controlled by billionaire Anil Ambani, has won a reprieve on its debt until the end of the year as it works on two asset sale deals that it expects will reduce its $7 billion debt by about 60 percent. On ...