It is a tale of two deals: One completed and the other, announced and later aborted.
France Telecom is close to buying the IT business of communication infrastructure provider GTL in the next few days for about $70 million, intended to enter the fast growing Indian telecom space.
Indian telecom equipment maker GTL Ltd and the Singapore-based Redington Group said on Thursday that they would not proceed with their proposed merger.
Telecom infrastructure major GTL Infrastructure will use its Rs 2,200 crore cash reserves to buy back foreign currency convertible bonds.
GTL has set up a special purpose vehicle -- GTL M&A Services -- through which it will provide services like engineering, operation and management, designing and building of network infrastructure. The company would provide remote network managed services from India.
Network services major GTL has acquired a Malaysia-based network planning and optimisation company, ADA Cellworks, in an all-cash deal of $25 million (around Rs 100 crore).
A series of failed loan recast programmes continues to haunt banks.
GTL has placed non-binding offers on five companies in the US and Europe and lined up acquisitions worth Rs 1,100 crore (Rs 11 billion) in the next two quarters.
Reliance Infratel, the tower business of Anil Ambani-controlled Reliance Communications, is learnt to be in talks with another tower firm GTL to part-sell its stake and also combine the businesses of both entities.
GTL Infrastructure (GIL), a subsidiary of telecom network major GTL, has acquired Essar Group's tower company Essar Telecom Infrastructure (ETIPL) for an estimated $1.5 billion (Rs 6,000 crore), according to sources.
Information technology company GTL on Thursday said it would invest Rs 25 crore (Rs 250 million) to set up a 500-workers facility at Pune and increase by 750 its call centre personnel by 2004-05.
Network services provider GTL has sold its enterprise network services and managed services business to Orange Business Service, an arm of France Telecom, for about Rs 150 crore (Rs 1.5 billion) in cash.
The world's largest independent telecom masts player GTL Infrastructure on Wednesday said its expects to complete the merger of Reliance Infratel's tower operations with itself by the middle of next month.
A meeting of the board of directors of GTL Ltd is scheduled to be held on January 27 to consider and approve the audited financial results for the quarter ended December 31, 2002.\n\n\n\n
GTL Ltd has posted a consolidated net profit of Rs 80.26 crore for full year ended March 31, 2003, compared to Rs 109.42 crore registered during the previous year.
On June 27, the boards of GTL, RCom and its subsidiary Reliance Infratel Ltd had given in-principle approvals to the Rs 50,000-crore ($11 billion) merger deal to create the world's largest independent telecom infrastructure company, neither owned nor controlled by any telecom operator.
GTL Ltd plans to buy Redington Group comprising Redington India Ltd, Redington Pte Ltd Singapore and Redington Gulf FZE for $95 million in cash and shares.
GTL Ltd has posted a net profit of Rs 211.80 million for the quarter ended December 31, 2002 as compared to Rs 287.70 million in the quarter ended December 31, 2001.
Reliance Infratel, the tower arm of Anil Ambani-led Reliance Communications, has agreed to merge its 50,000-tower portfolio with GTL Infrastructure in a cash and stock deal, making it arguably one of the largest merger and acquisition transactions in India.
Manoj Tirodkar, chairman of GTL Infra, spoke to Arijit Barman & Katya Naidu bout the different aspects of the transaction.
The Internet Corporation of Assigned Names and Numbers' (ICANN) decision to expand gTLD (generic top-level domain) names on the internet to include almost any name (even .anything), is foxing both users and registers. It has also raised fears of online trademark violations and cybersquatting.
At a dinner banquet last year at the Taj Mahal rooftop - after successfully concluding a merger between Aircel's towers and group company GTL Infrastructure - Tirodkar was hailed as sagacious, humble and hands-on by a motley bunch of suave bankers, analysts and media persons.
In June this year, Reliance agreed to merge its 50,000 telecom tower portfolio with GTL Infra in a cash-and-stock deal. Post merger, this would have been arguably the largest independent tower platform with an enterprise value of around $11billion.
Ajit Mishra answers reader queries on the stock market.
The ADA Group's recent decision to sell a stake in Reliance Communications and merge its telecom tower business with GTL Infra will help it reduce a mounting debt burden.
The country's most valued firm RIL's bid to acquire a majority stake in bankrupt petrochemical group was called off by LyondellBasell after the latter found the price offer was undervaluing the company.
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.
Driven by Reliance Infratel's $10.86 billion merger deal with GTL Infrastructure, the total value of merger and acquisition deals in the country jumped nine-fold to $24.8 billion in the second quarter of 2010.
US-based telecom infrastructure company, Unicorn Communications, is planning to enter the Indian market. It intends to commence operations in about three months and will offer telecom infrastructure such as mobile towers.
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
Three telecom companies - Spanco Telesystems and Solutions, TVS Interconnect Systems (a TVS group firm) and Acme Tele Power - have emerged as the front-runners for state-owned Bharat Sanchar Nigam Ltd's (BSNL) Rs 30,000-crore infrastructure contract.
Hyderabad-based Goldstone Technologies, a software technology and services company, is all set to launch IPTV services in Malaysia and Thailand.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In the Rs 35-50 lakh range, these superbikes can make your presence special, wherever you take them
Avista helped some companies restructure their debt in such a way that overseas investors had to take a steep haircut
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
This was the companies' highest loss in two years.
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