GSM service provider Idea Cellular might get spectrum to start operations in the Mumbai circle by the end of the year, with the ministry of telecom close to clearing its application.
At a time when instability in the US leveraged buyout (LBO) market is making world equities markets jittery, JSW Steel is planning a leveraged buyout of a North American steel company.
The joint venture, for which both the parties have signed a memorandum of understanding, has drawn criticism from the NGOs and environmentalists on the ground that it would cause extinction to the world's rarest birds.
The Essar group-owned company's agreement with the Bangalore-based BPL group, which owns the brand through its flagship firm, had expired on March this year.
Pitroda is also considered the pioneer of the Indian telecom revolution, more than his reputation as a venture capitalist, inventor, technocrat and social thinker.
The sale of the BPO business, run by Citigroup Global Services (formerly e-Serve), is expected to fetch around Rs 3,200 crore for the group. At this price, it will be the largest deal in the domestic BPO space.
The companies are looking at tapping solar power, wind energy and bio-fuels, including fish and vegetable oil, to run base transceiver systems in areas with poor power supply.
Indian telecom companies are likely to get a windfall of Rs 100-150 crore (Rs 1 to Rs 1.5 billion) when they announce their first quarter results during this week.
The Essar group's proposed acquisition of Minnesota Steel is likely to be delayed, with the US state authorities taking time in providing the infrastructure required to move the project.
Indian telecom operators are world-leaders in terms of profitability, enjoying better EBIDTA margin than their counterparts in developed countries.
The company is in advanced stages of negotiations with four cellular operators and is expected to announce a couple of deals soon.
Swiss firm to acquire 10-15% stake in the hotel chain.
Telecom service provider Reliance Communications is to tap the retail international long distance calling space in the UK
Sources close to the development said senior executives of these three companies recently visited the facilities of Stelco, which was put on the block last month.
Reliance Communications will slash the homebound international call tariffs - calls made by Indians visiting abroad - by around 50 per cent to cash in on the growing Rs 800-crore inbound market.
Under the current system, companies apply to state governments, which in turn recommend the shortlisted entities to the central government.
Chairman A M Naik told Business Standard the "verticalisation" effort is aimed at ensuring better corporate governance as well as attracting talent to the 70-year-old company.
The Life Insurance Corporation has decided not to nominate any retired employee as a director on the board of the almost 90 companies in which it has equity or loan exposure.
Tata Steel has lost the bidding battle for Vietnam's Vinausteel and SSE Steel after losing a vote on the resolution for its sale and purchase agreement by Vietnam Industrial Investments, the parent company of the two steel makers.
Six months after acquiring Anglo-Dutch steel giant Corus, Tata Steel has put the foreign company's aluminium business on the block.
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