Bharat Sanchar Nigam Ltd chairman Kuldeep Goyal has been trying to get a foothold in Africa since February this year when the government allowed the state-owned giant to pursue business opportunities in that continent. The five-month old search continues; Goyal says BSNL is looking at acquiring stakes or licences in African markets as and when they are put up for sale.
Essar group, which is buying out the Uganda and Congo assets of Warid Telecom -- a joint venture between the Abu Dhabi Group and Singtel and is present in Kenya, has also reportedly been sounded out by Zain shareholders. A company spokesperson, however, declined to comment on the issue.
Not too much is known about the middle-aged Arifuddin who is Vavasi's major shareholder, except for the fact that he is a civil engineer from Karnataka and started the group around a decade ago.
As the time draws closer to the expiry of exclusivity agreement between Rcom and MTN for negotiations, one newspaper after another in Britain and the US is commenting on the eruption of a battle between the two richest brothers in the world. The controversy over the possible deal started with Mukesh Ambani-led Reliance Industries asserting its Right of First Refusal over the younger brother's company with legal notices to Rcom and MTN.
Bharti Airtelis looking to buy assets in emerging markets - the latest sign that India 's biggest mobile phone operator could broaden its base. One would see Bharti, which has a market value of $44bn, make a partial tender offer for a 51 per cent stake in MTN. This would allow MTN to retain its listing in Johannesburg and reduce the debt Bharti would need to take on to finance a deal.
The Anil Ambani group on Friday asked market regulator SEBI to probe hammering down of shares of Reliance Communications and other companies by rivals and charged RIL with attempting to derail ongoing talks for a deal with South African telecom giant MTN.
Warid Telecom, a wholly-owned subsidiary of the Dhabi Group, offers mobile telecom services with a user base of over 2.9 million in Bangladesh.
A flare up of sibling rivalry between India 's billionaire Ambani brothers over the proposed takeover of mobile operator Reliance Communications by South Africa's MTN is threatening to spill over into the courts.
People who know Mr Ambani, estimated by Forbes as the world's sixth richest man with a net worth of about $42bn, say the deal is typical of his aggressive style.
Billionaire Sunil Mittal, arguably India 's most successful telecom entrepreneur, may be on the verge of starting another revolution in the country's corporate world. Mr Mittal, who has built his mobile operator Bharti Airtel from a bit player into a $40bn company in less than a decade, is now pondering a deal that could leave him holding a much smaller share in the group but turn it into a global player.
'While investors in Reliance have had to play a game of patience for long stretches, for Anil the challenge is to do what used to be his brother's forte -- generating cash by putting assets in the ground and making things,' says T N Ninan.
The broader markets are outperforming the benchmark indices.
The company will wait for sizeable user base for better valuation.
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