Various corporate houses and multinational companies including AT&T, Russian firm Sistema, Sterlite, Hindujas, DLF, Parsavnath, Videocon and others have entered the fray to get telecom licences.
DB Reality and Swan Telecom promoter Shahid Usman Balwa was on Friday sent to Tihar Jail by court and remain in under judicial custody till March 3.
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.
The government on Wednesday said the Mahanagar Telephone Nigam Ltd board has approved the bid for acquiring stake in Rwanda Telecom.
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.
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).
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 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.
The other stressed sectors, according to Chidambaram, are infrastructure, steel, construction, textile and food processing.
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