'We operate in 16 countries already, and therefore adding the UK to it, and beginning a chapter in the European continent is the next step.'
In India BT is working on a new community project aimed at supporting the developing countries to be a part of the digital society.\n
A separate feed of UTV Movies, tailored for the US market, is being beamed out of India and is being delivered through BT's network, BT said. The communications solutions provider has signed a similar contract with NDTV for distributing its business and lifestyle channels -- NDTV Profit and NDTV Good Times.
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 .
The deal is multi-million pound multi-services telecom contract with The Carphone Warehouse, Britain's largest independent retailer of mobile communications. \n
Prime Minister Narendra Modi is likely to visit the United Kingdom by the end of this month, with the India-UK free trade deal expected to be formally signed. Discussions on expanding bilateral ties in defence and security are also anticipated.
Issues related to the proposed free trade agreement (FTA) and bilateral investment treaty between India and the UK are expected to figure during the three-day visit of Finance Minister Nirmala Sitharaman to London from April 8-10, official sources said. The minister will attend a host of meetings, including the India-United Kingdom Economic and Financial Dialogue, in London.
India expects partners to understand its policy of 'zero tolerance' against terrorism, and it will never countenance 'perpetrators of evil' being put on par with its victims, External Affairs Minister S Jaishankar said on Saturday during extensive talks with his British counterpart David Lammy.
Reliance Industries on Monday categorically denied any intent to bid for the UK telecom group, BT. RIL dismissed a report titled `Reliance mulling bid for UK's telco BT Group' as "completely speculative and baseless". "We categorically deny any intent to bid for the UK telecom group, BT, formerly British Telecom, as reported in the article...," Reliance Industries Ltd (RIL) said in a communication to BSE.
With the new entity coming in force, Bharti Airtel will lose the tag of India's biggest telecom service provider to the new entity.
Doha-based Qatar Foundation Endowment has bought five per cent stake for $1.18 billion in Bharti Airtel.
After a year of decline, mergers and acquisitions (M&As) in India increased 13.8 per cent, reaching $69.2 billion in the first nine months of 2024, as against $60.8 billion during the same period in 2023. Led by Indian companies and private-equity (PE) firms, 2,301 transactions were signed between January and September this year as compared to 1,855 transactions reported in the same period last year, according to the Bloomberg data.
British telecom player Vodafone on Wednesday said it has sold an 18 per cent stake in Indus Towers for 1.7 billion euro (about Rs 15,300 crore). Meanwhile, Bharti Airtel has increased its stake by acquiring 2.69 crore shares, representing a 1 per cent stake, in Indus Towers. The shares were acquired by Airtel at an average price of Rs 320 apiece, taking the transaction value to Rs 862.38 crore, as per the bulk deal data.
Vodafone Idea board on Tuesday approved a fund-raise of up to Rs 20,000 crore through a combination of equity and equity-linked instruments, the crisis-ridden telco said, adding promoters will also participate in the proposed equity raise. Overall, Vodafone Idea plans to raise around Rs 45,000 crore through a mix of equity and debt, the company said. The company has been fighting a desperate battle for survival -- it has a debt of Rs 2.1 lakh crore and is reporting quarterly losses, amid massive subscriber churn.
Vodafone further said it has "always been confident" that no tax is due on the company. The government in August enacted a law to end all retrospective taxation imposed on indirect transfer of Indian assets. The rules under the law seek to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets and also refund the amount paid in these cases without any interest. Asked if the company has filed an application with the Indian government to settle the retrospective tax dispute, a Vodafone spokesperson said, "We can confirm we have filed an application".
British telecom major Vodafone has raised its stake in debt-ridden Vodafone Idea Limited to 47.61 per cent through its subsidiary Prime Metals, a regulatory filing said on Monday. The company earlier held 44.39 per cent stake in Vodafone Idea Limited (VIL). "Prime Metals held 2,18,55,26,081 equity shares, representing 7.61 per cent of the equity share capital, of Vodafone Idea Limited (the "company").
18% cent GST on iPhones continues to weigh heavily on the final cost to Indian consumers, limiting the impact of price cuts.
Since August 2013, FIPB has approved two FDI proposals in the telecom sector.
British telecom giant BT has offloaded 9.1 per cent stake in Tech Mahindra for Rs 1,011.4 crore, marking its exit from the Indian IT services firm.
Vodafone, which is yet to announce the acquisition, has offered to partner Essar, on which the Indian conglomerate said, "We are at the moment evaluating all our options in the best interest of the Group."
In the broader market, the BSE Midcap index bucked the trend to gain 0.3%
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
Mahindra British Telecom, a telecom-focussed software joint venture between Indian auto group Mahindra & Mahindra and British Telecom, plans to raise its staff strength by 50-65 per cent this year, a spokesman said.
Mphasis BFL Group on Monday said it would acquire London-based consulting company Princeton Consultings in an all cash deal for £7.73 million.
Three different invitations were sent out for the wedding and the receptions with top-run guests being sent a large red box that contained an intricate chest incorporating a mini silver temple featuring gold idols of various Hindu deities, including Lord Ganesh, Radha-Krishna, and Goddess Durga.
HCL Technologies surged on Monday after the company said that it has won a BPO order worth $160 million from British Telecom.
The department had recently sent a tax reminder notice to the British telecom major.
Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
British telecom giant Vodafone is in discussions to sell its about 5 per cent stake in telecom infrastructure company Indus Towers to Bharti Airtel, according to industry sources. The deal, if it goes through, could be worth over Rs 3,300 crore, they said. When contacted, Vodafone refused to comment on the matter. An e-mail sent to Bharti Airtel did not elicit any response.
Promoter Vodafone plans to infuse up to Rs 3,375 crore into debt-ridden Vodafone Idea Ltd as part of the company's proposed raising of funds worth Rs 14,200 crore. Besides Vodafone, Aditya Birla Group plans to pump in up to Rs 1,125 crore, according to a regulatory filing on Friday. The telecom operator will seek shareholders' approval for raising up to Rs 14,500 crore as well as increase its authorised share capital to Rs 75,000 crore at its the Extraordinary General Meeting (EGM) to be held on March 26.
The decision is likely to bring in at least Rs 5 lakh crore of fresh investments into the sector over five years by improving connectivity and competition
Finance Minister P Chidambaram has asked UK-based Vodafone Group, which is facing a tax liability of over Rs 11,200 crore in India, to give its view on the long-pending matter in writing, a senior official said.
This lab is also significant as it is the first of its kind in India where Intel has partnered with an IT software and services company for developing applications focused on IP Services category.
The operators believe that the industry is not ready for these services, even though such plans are good for users in Singapore. The service charges in the country are already lowest in the world and will not slide further for sometime. Moreover, this is also against the existing practice of an operator trying to match every scheme launched by competitors.
Vodafone on Wednesday said it will offload its entire 3.2 per cent shareholding in China Mobile, a divestment that will fetch the British telecom major about 4.3 billion pounds.
Telecom software and service solutions provider Mahindra-British Telecom has acquired privately-held US-based Axes Technologies for $54 million to consolidate its position as a leading services provider in the sector.
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