The Central Bureau of Investigation (CBI) is looking into the funding and transactions of Datacom Services (now Videocon Mobile), which was among the firms awarded a 2G telecom licence in January 2008.
Consumer durables major Videocon Industries' subsidiary Datacom Solutions, which has received telecom licences to begin pan-India operations, is planning to commence network rollout starting August 15 and services by year-end, becoming one of the first newcomers to launch operations.
Trai has asked the department of telecommunication to 'keep in abeyance' the grant of new 2G (mobile) licences till the watchdog finalises its recommendations.
Surajeet Das Gupta & Rajesh Kurup in New Delhi/Mumbai
Talks have failed between the Dhoots of the Videocon group and Mahendra Nahata of Himachal Futuristic Communications Ltd to buy out the latter's 36 per cent stake in all-India mobile licence-holder Datacom Solutions.
Billionaire Mukesh Ambani's Reliance Industries Ltd has spent $13 billion on acquisitions in the past five years across new energy, telecom, retail and media business to script a pivot away from core oil and petrochemicals business to clean energy and consumer facing verticals. Last week, Reliance bought oncology platform Karkinos Healthcare for Rs 375 crore, adding another stack to its diagnostic and digital healthcare ecosystem, Morgan Stanley said in a report.
Google Inc, the world's largest search engine, is all set to open a high-end research and development centre in Bangalore.\n\n\n\n
Reliance Jio added 34.7 lakh mobile subscribers in September, cementing its lead in the competitive telecom market, while Airtel's wireless subscriber tally rose by 13.2 lakh, according to monthly data put out by Trai. Vodafone Idea lost 7.5 lakh mobile subscribers during September, dragging its wireless user tally to 22.75 crore. Reliance Jio gained 34.75 lakh wireless subscribers in September, and its user base climbed to 44.92 crore, as per data by Telecom Regulatory Authority of India (Trai).
Trai data show the company has no subscribers in Uttar Pradesh East & West and Bihar
Etisalat, which is mulling an Indian foray, has since started discussions with several telecom companies including the Videocon Group's Datacom Solutions and Essar-controlled Loop Telecom for equity. Ravi Sharma, CEO of Datacom confirmed that Etilasat was one of the companies to which the company was talking but declined to offer details. Loop Telecom declined to comment.
A no-holds-barred boardroom battle has broken out between Mahendra Nahata and the Dhoots of Videocon, 36:64 partners in Datacom Solutions, a company which wants to launch mobile telephone services all over the country in a month-and-a-half.
Consumer durables major Videocon Industries has firmed up its telecom plans and is making an initial investment of Rs 6,000 crore for rolling out GSM services, notwithstanding spectrum and legal issues besieging the sector. The services will be launched through its subsidiary, Datacom Solutions, by May. In case of a delay in spectrum allocation, the company may opt for taking spectrum on lease.
Mobile Telecommunications Company (Zain), the third largest telecom operator in West Asia and a leading operator in Africa, has initiated talks with several Indian telecom service providers to buy stakes.
JioFiber, India's first 100 per cent all-fiber broadband service, will start from 100 Mbps and go all the way up to 1 Gbps. This will propel India to top 5 broadband nations globally.
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
Given the fragmented nature of the domestic cable TV market and the need for last-mile connectivity, RIL, said sources, would have to do more to achieve its target of reaching 20 million homes and 15 million business establishments with its broadband services across 1,600 towns in the next few years.
Most listed corporate entities in the country are in a fix. With the sudden declaration in late March of a nationwide lockdown to tackle the Covid-19 pandemic, the final calculations of their financial results for the year 2019-20 (FY20) are hanging in limbo. Till April 19, only 41 of the 3,947 companies listed on the BSE have managed to finalise the dates for the declaration of their yearly financial results.
The number of telephone subscribers in India increased from 1,183.15 million at the end of May to 1,186.63 million at the end of June.
Revenue jumped 54.5 per cent to Rs 156,291 crore.
According to the CEO of an Indian group with presence in the telecom segment and two merchant bankers, the Mexico-headquartered telco's bankers have been sounded out for preliminary discussions with leading Indian telecom companies for a strategic tie-up.
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