Essar will have to pay capital gains tax, as the company will be gaining from the deal.
While investors might be jittery, experts say proposals from companies looking to raise funds through PEs have not decreased.
India's leading private airport developers, GMR and GVK groups, are planning to bid for the modernisation of Ngurah Rai International Airport in Bali, Indonesia. Both are currently undertaking feasibility studies and preparing to participate in the tender process, sources said.
"The advent of 3G will give the same experience of gaming that one gets in a personal computer or a laptop. We expect to see an increase in games downloaded by at least by 100 per cent and as many as 60 3G-enabled games will be launched in the next few months," said Nitish Mittersain, CEO, Nazara Technologies.
Talks will begin later on the share purchase agreement, which will be done much later, after the negotiations are completed.
Telcos say tariffs could be cut by up to 20 per cent. While post-paid customers constitute only 5 per cent of the total customer base of 670 million, they make up over 15 per cent of revenues thanks to their relatively higher average revenue per user (Arpu).
The much-hyped target set by Union road transport and highways Minister Kamal Nath, to build 20 kilometres of roads every day, might be revised to a more achievable target, informed sources say. Sources close to the development say there is talk within the ministry of a more feasible target. "The target of 20 kilometres per day is not sacrosanct. That is what the minister wanted to achieve.
The plan of action ranges from drawdown of loans to seeking additional guarantees, to even recalling some of the loans, if the situation so warrants.
Millions of Indian households are setting up wireless networks not just for PCs, but for other WiFi enabled devices, too.
Blackberry, in partnership with Vodafone, has come up with an in-your-face kind of campaign that makes no reference to the controversy.
But with the tower asset sale being called off, RCom now has to wait for a new plan before it can reduce its staggering Rs 33,000-crore (Rs 330-billion) debt, which would have been reduced by over half (Rs 18,000 crore or Rs 180 billion) if the tower deal would have gone through.
The company had already sought bids to set up towers in countries like Nigeria, Kenya and Tanzania, said sources. Bharti is giving these orders market wise, instead of one bulk order.
Telecom companies are eyeing a piece of the market share where data usage generates a higher amount of revenue, once 3G services are launched later this year.
The company is in talks to tie up with 50 top brands in the country across sectors like apparel, restaurants, electronics and even consumer goods.
Mobile coupons are used by over 3,000 retailers at various scales and are believed to be a Rs 5-crore (Rs 50 million) business opportunity.
Companies such as Larsen & Toubro and Bharat Heavy Electricals Ltd believe the undervalued renminbi (yuan) gives Chinese goods an unfair advantage in Indian markets.
Private equity investor Actis is set to acquire a stake in infrastructure major GVK's power business for about Rs 1,000 crore, according to sources close to the development.
Industry lobby, Mobile Marketing Association, along with other industry bodies, is submitting a proposal to the Telecom Regulatory Authority of India (Trai), opposing the possibility of a 'do-call' registry.
Investors with a 3-4 year time horizon should pick up telecom stocks.
Japanese power companies, including Tokyo Electric Power Company and J-Power, seek to make their presence felt in India.
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