Information technology major Infosys and Liberty Global, a London-based telecom firm, signed a 1.5 billion (about $1.64 billion) deal for five years to evolve and scale up the telco's digital entertainment and connectivity platforms, the companies said in a joint statement on Tuesday. As part of the expanded collaboration agreement, the size of the contract will touch 2.3 billion (about $2.5 billion) if extended to 8 years. The collaboration allows Liberty Global to realise run-rate savings of over 100 million (about $109 million) per annum, inclusive of other savings and technology investments, Infosys said in a statement.
The 15-year agreement will see Infosys develop a next-generation, data-driven workforce management platform to replace the existing electronic staff record (ESR) system, which annually manages a 55 billion payroll for 1.9 million NHS employees.
Bharti Global, the international investment arm of Bharti Enterprises, has decided to buy 24.5 per cent equity in BT Group - a move that will make the Indian conglomerate the biggest shareholder in the UK's second-largest telecom company both in terms of market value and subscriber count. The shares are being purchased from billionaire Patrick Drahi's Altice UK through a combination of cash and debt .
Liberty Global and Discovery Communications have made a joint approach to CVC Capital about buying a 49 percent stake in Formula One, the Telegraph reported, without citing sources.
From Covid to climate change, Shankar Acharya's look at some of the trends and events that might shape 2022.
The newly-formed entity which will list on the NYSE as Eros STX Entertainment Corp, will remain listed on the New York Stock Exchange, with headquarters in both Mumbai, India, and Burbank, California, and has also got $125 million in fresh funding. The merger will not change the structure of Eros's Indian arm which is also listed on Indian stock exchanges.
Indian cable companies may lose close to $200 million (about Rs 800 crore) in foreign investments this year as companies like Macquarie, Carlyle, Providence and Liberty Global
Foreign cable companies like Liberty Global Inc, Macquarie Media Group and Star Group want the prime minister to intervene in the digital broadband policy initiatives for the cable industry.
100 per cent FDI is now allowed in almost every major TV distribution form (direct-to-home, cable, headend-in-the-sky, multi-system operators) and 49 per cent in TV news.
'Employees may well be expected to be on call at almost all times -- much like the standard Indian approach to the workday,' points out Mihir S Sharma.
To outgoing Vodafone CEO Vittorio Colao, negotiating big deals was an art form, as an international report pointed out after the $130-billion sale of Vodafone's 45 per cent stake in Verizon Wireless, says Nivedita Mookerji.
Formula One faces its biggest shake-up in decades with the announcement on Wednesday that US cable TV mogul John Malone's Liberty Media has agreed to take control of the cash-generating glamour sport.
Poor policymaking, a fractious industry and the cockeyed nature of regulations are to blame, saya Vanita Kohli-Khandekar.
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