Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Global Cloud Xchange, the international business unit of Reliance Communications, is in early talks to raise over $250 million (about Rs 1,500 crore) through an overseas bond issue, a person familiar with the matter said.
“The company is in preliminary talks with investors to raise funds through an issue of overseas bonds. This is to mainly gauge investor interest and the final size of the offering and issue details will be finalised at a later stage,” the person said.
He added that Global Cloud Xchange (GCX) will use the funds to pay off the $250 million that it owes to its immediate parent, Reliance Globalcom BV — a whollyowned unit of RCom — and the rest for capital expenditure. Executives at Reliance Communications and Global Cloud Xchange declined to comment. Read More at The Economic Times