Amid a raging controversy over the 2G spectrum scam, Minister of State for Telecom Sachin Pilot said most of the allegations that are cropping up date back to the National Democratic Alliance regime.
Telecom infrastructure player Indus Towers has been largely ignored by investors with occasional bursts of trading when there's news flow. For example, the stock fell from Rs 188 (Jan 1, 2023) to Rs 135 (Jan 27) and then bounced back to Rs 165 in early February as the Government of India (GoI) converted Vodafone Idea's (Vi) debt into equity and Bharti Airtel pushed up its direct stake in Indus to 47.95 per cent. The cash-strapped Vi holds 21 per cent stake in Indus Towers and Indus also has substantial receivables to come in from Vi which is a negative overhang.
The government on Wednesday said the Mahanagar Telephone Nigam Ltd board has approved the bid for acquiring stake in Rwanda Telecom.
ontinuing its acquisition spree in the international market, Bharti Airtel on Wednesday said the company will acquire 100 per cent stake in Telecom Seychelles for $62 million (about Rs 288 crore).
The department of telecommunications, in the draft universal licence guidelines to be signed with telcos which recently won spectrum in the 1800 MHz auction of November, has included a new clause for foreign companies.
In the backdrop of intense competition in the sector, government on Tuesday asked telecom PSUs BSNL and MTNL to reinvent themselves to react faster on aspects like tender processes.
The other stressed sectors, according to Chidambaram, are infrastructure, steel, construction, textile and food processing.
Two regional CDMA players - HFCL in Punjab and Shyam Telecom in Rajasthan - have deposited fee for their GSM spectrum as per the dual technology permitted by the government. HFCL deposited Rs 151.75 crore (Rs 1.51 billion) for Punjab circle, while Shyam gave about Rs 32 crore for the Rajasthan circle.
Bharti Telecom stake in the company has been now been raised to 43.72 per cent, the company said in a BSE filing.
Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said. Applications for participating in the July 26 auction of airwaves, including those capable of providing fifth-generation or 5G telecom services such as ultra-high-speed internet connectivity, closed on Friday with at least four applications. Jio, Airtel and Vodafone Idea -- the three private players in the telecom sector -- applied, three sources with knowledge of the matter said.
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