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The Aditya Birla group's wireless telephony firm Idea Cellular has agreed to buy Spice Communications in a three-stage deal in which minority shareholders of Spice would be given an option either to swap their shares for the Birla group firm or sell them in an open offer.
Idea Cellular, the Aditya Birla group firm that is on the verge of taking over Spice Communications by buying out B K Modi's 41 per cent stake, is sounding out its bankers to raise funds to upgrade in the struggling telecom operator's network and technology.
Idea Cellular and BPL Mobile announced interconnect for multimedia messaging service.
The bidding companies have the choice of either bidding individually or as a group.
The bidding companies have the choice of either bidding individually or as a group.
Not just Mumbai, the company's plans to roll out services in Bihar and Jharkhand has also been delayed due to the unavailability of spectrum.
Telecoms investor Aditya Birla Nuvo Ltd and retailer Future Group were among the first big names to apply for licenses to run so-called payments banks
Telekom Malaysia which already holds over 49 per cent equity stake (which it bought for over Rs 730 crore in Spice has been looking at expanding its base in India beyond just the two circles.
IBM chairman, president & chief executive officer Samuel J Palmisano is scheduled to meet Reliance Communications chairman Anil Ambani
Experts argue that the cost savings both in terms of capex as well as operating costs can be substantial in the next one to two years.
The incumbents Bharti Airtel and Vodafone Idea recorded adjusted gross revenue of Rs 10,701.5 crore and Rs 9,808.92 crore, respectively, during the quarter.
Market regulator asks bankers to use real time gross settlement system for IPOs.
The new platform allows subscribers to be on instant messaging even if they are overseas and roaming in one of the member-operator's service.
Mobile phone service providers alone jointly reported gross revenue of Rs 55,164.18 crore (RS 551.64 billion).
Telecom regulator Trai has initiated action against cellular operators including Bharti, Idea and Hutchison for defying its order on selective blocking of calls originating and terminating in some basic service operators' networks.
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.
Providence Equity Partners of the US, which had made an abortive attempt to enter India through the acquisition of C Sivasankaran's stake in Aircel last year, has picked up a 15 per cent stake in the Aditya Birla Group-controlled Idea Cellular.
Launching a counter offensive in the ongoing controversy over stake holding in Idea Cellular, Tatas on Tuesday dubbed the position of joint venture partner AV Birla Group as "misleading" and asserted that they were under no legal obligation to exit f
The total outstanding dues against Bharti Airtel is Rs 11,235.50 crore.
Department of Telecom had sought the legal opinion of the matter from the government's counsel.
In times of high interest rates, it is not a very bright idea to take a loan and invest in an IPO
The total subscriber base crosses 115 million mark.
The initial public offer of Aditya Birla group flagship company Idea Cellular was oversubscribed more than 57 times in the process generating the highest ever demand of Rs 1,21,557 crore
Telecom operator Idea Cellular said it is on track with its plans to raise Rs 2,500 crore (Rs 25 billion) through its initial public issue and plans to clear all formalities by the month-end.
Upfront payment of Rs 32,000 cr just half of Budget estimate; no takers for 700 & 900 megahertz bands
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Spectrum auction ends, brings Rs 1.09 tln to govt kitty.
The company will go in for a pre-IPO private placement of 15 per cent of the shares to be offered through the issue.
Government's resolution on the contentious issue of spectrum usage fee seems to have found favour with telecom operators with none of them withdrawing their application from airways auction on the last day on Monday.
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