The government's showcase Indian Infrastructure Finance Company Ltd has run into trouble with two leading global banks - Standard Chartered Bank and Calyon Credit Agricole - suggesting that they may not fulfil collective contractual funding commitments of $250 million
India will be one of the key centres for design and development of the A350 aircraft, European aircraft manufacturer Airbus' answer to the Boeing 787 Dreamliner.
It is not clear, however, whether the two players are considering a majority stake or would be content as investors with 26 per cent.
Delhi-based Great Eastern Energy Corporation is planning a public issue, part of which will be "sponsored", meaning foreign shareholders will also tender their shares for sale, a first for the Indian markets.
ONGC Videsh Ltd, the wholly-owned subsidiary of Oil and Natural Gas Corporation, announced that it has acquired 15 per cent in UK-listed Imperial Energy and formally launched a negotiated takeover bid for the company at $2.6 billion (equivalent to around Rs 11,500 crore), which the company's board has approved.
To add to company's 'three-screen' strategy of mobile phones, IPTV and broadband.
In an effort to stem a possible counter-bid by China's Sinopec and others, ONGC Videsh Ltd, the overseas exploration subsidiary of state-owned Oil and Natural Gas Corporation, has through its advisor Deutsche Bank approached the large institutional investors of Imperial Energy to acquire their holdings.
The promoters of East India Hotels Ltd, owners of the Oberoi brand and the largest hotel chain after the Tata-owned Indian Hotels and ITC Welcome Group, are in advanced discussions with leading corporate houses and private equity firms to divest a strategic stake, possibly 26 per cent.
However, operators said the chief beneficiary would be the state-owned Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Ltd, which have already been given the spectrum for 3G services, as well as Reliance Communications, which is still to roll out its 2G GSM network.
The Rs 1,808-crore modernisation and expansion plan for Chennai airport, which was recently cleared by the Public Investment Board and expected to begin this September, may not be sufficient to cope with projected growth in passenger traffic.
Talks have failed between the Dhoots of the Videocon group and Mahendra Nahata of Himachal Futuristic Communications Ltd to buy out the latter's 36 per cent stake in all-India mobile licence-holder Datacom Solutions.
3G mobile services, to be launched in India on August 22, is set to have serious competition. The reason is simple: if you are looking for high quality video streaming of movies and want to play multiplayer on-line games, it's not 3G services alone you need to look at.
We will not be in the ultra-low-cost car segment. Our focus will be on the A1 and A2 segments, which are growth areas in which many of the new players like Nissan, Volkswagen or Toyota are planning to enter. Our entry-level car will remain the Maruti 800.
With 3G mobile services, which provide high-speed downloads of data, movies and videos, around six month away, mobile phone makers are getting ready to offer handsets for as little as Rs 3,500, against the currently available minimum price of over Rs 8,000.
However, portability services, which were earlier expected to be launched by the end of the year in the four metros -- Delhi, Mumbai, Kolkata and Chennai -- as well as Tamil Nadu, have now been delayed till February or March 2009 (the DoT has said that it will start operations six months after the licence is granted).
DoT identifies more spectrum, to expand auctions from earlier estimate of five in each service area.
This follows the show-cause notice that was issued to the company last month by the ministry of informaton and broadcasting and the response given by the company. According to highly placed sources, the letter of suspension of Bharti's DTH licence has been moved within the I&B ministry because it is not satisfied with the response sent by Bharti Telemedia.
The department of telecommunications has raised questions about the merger between Idea Cellular and Spice Telecom violating key clauses on intra-circle merger and mobile licence conditions.
The Department of Telecommunications (DoT) has mooted a proposal under which operators will pay a one-time fee for all spectrum allotments beyond 6.2 MHz.
The Department of Telecommunications is examining a proposal to auction around nine licences for 3G -- or third generation -- services among incumbents and new players in place of an earlier proposal to allow five players in this space.
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