It is a tale of two deals: One completed and the other, announced and later aborted.
Telecom infrastructure major GTL Infrastructure will use its Rs 2,200 crore cash reserves to buy back foreign currency convertible bonds.
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.
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.
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.
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.
A series of failed loan recast programmes continues to haunt banks.
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.
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.
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.
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.
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.
Avista helped some companies restructure their debt in such a way that overseas investors had to take a steep haircut
Ajit Mishra answers reader queries on the stock market.
Manoj Tirodkar, chairman of GTL Infra, spoke to Arijit Barman & Katya Naidu bout the different aspects of the transaction.
This was the companies' highest loss in two years.
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.
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.
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Since April 1, promoters of Jaiprakash Associates have released more than 225 million Jaiprakash Power Ventures shares (valued at Rs 425 crore) pledged with lenders.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The RBI should provide readily accessible summary information on its website about all corporate debt defaulters and the amounts involved.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
These firms reported a combined operating profit of Rs 26,077 crore (Rs 260.77 billion).
