The Anil Dhirubhai Ambani Group company Reliance Communications, which is in the process of bidding for Hutch-Essar, is planning to list its undersea cable business unit Flag Telecom in London to raise over $500 million.
Finance ministry advises banks to invoke personal guarantees of all promoters whose companies have gone to NCLT for debt resolution.
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.
BSNL had disconnected the point of interconnection of Reliance Communications on May 23 and May 31 in Haryana and on May 4 in Punjab claiming non-payment of pending dues by the private telco.
Last year Etisalat had forayed into the Indian telecom scene with the acquisition of 45 per cent stake in India's Swan Telecom for around $900 million (around Rs 4,140 crore or Rs 41.4 billion). The deal puts the value of the Indian GSM service provider, which holds telecom licences in 13 circles, at around $2 billion.The company plans to launch its first telecom operation during April-June next year.
The BSE Realty, Power and Metal index gained 1.7% each at 5,208, 2,660 and 12,476, respectively. The market breadth was fairly positive - out of 2,718 stocks traded, 1,666 advanced, 969 declined and 83 were unchanged on Wednesday. Reliance Communications surged 3.8% to Rs 415, and Bharti Airtel rallied 3% to Rs 815.
While smart boys like the Ruias of Essar, Ajay Piramal, Max India promoter Analjit Singh laughed all the way to the bank, the Tatas, Anil Ambani, Malaysian tycoon T Ananda Krishna of Maxis (which invested in Aircel), Sistema, and Norway's Telenor burnt their fingers, notes Surajeet Das Gupta.
The NSE Nifty moved up 75 points to settle at 4,001. The index touched a high of 13,510 -- up 482 points from the day's low. The Sensex finally ended (provisional) with a gain of 311 points at 13,405.
Agressive buying in late noon deals helped the index touch the day's high at 17,366 - up 388 points from Wednesday's close. The index finally ended with a gain of 375 points at 17,353. The market breadth was fairly positive - out of 2,755 stocks traded, 1,772 advanced, 909 declined and the rest were unchanged.
Company targets sale of one million handsets a year.
The district consumer court in its recent order directed the service provider to pay Rs 5,000 towards the mental trauma, and physical and financial losses incurred by Subhash Kharat and Rs 1,000 as litigation expenses.
Idea may have to shell out Rs 4,500 crore in cash
Anil Ambani Group firm Flag Telecom on Monday announced the acquisition of US-based Ethernet services provider Yipes Communications for 300 million dollars (Rs 1,200 crore) in cash.
Banking on the recent cable landing station regulations, Reliance Communications is planning to launch global video transmission services on its new international long distance network.
State govt aims to make Hyderabad a 4G WiFi-enabled city by December.
RCom and Tata Teleservices are the top net losers of subscribers under mobile number portability (MNP) services.
Under the long-term passive infrastructure sharing agreement, Etisalat DB, a joint venture between Etisalat and Dynamix Balwas Group and its subsidiary, would outsource their telecom infrastructure requirements for the 15 telecom circles, the company said in a statement.
Even as telecom services are being restored in Kashmir Valley, mobile operators are offering free calling facility in the region.
Reliance Communications has accused "old 2G operators" of causing over Rs 1 lakh crore (Rs 1 trillion) in losses to the exchequer through "fraudulent means".
Ambani said, in the telecom space, the focus will be on debt reduction, and the virtual merger did away with the need for major capex and will help towards this
Mukesh and Anil will announce two more infrastructure-sharing agreements by mid-June.
Leading telecom operators Bharti Airtel and Reliance Communications will start selling Apple's iPhone 5s and iPhone 5c smartphones from November 1.
Market worth has risen to half that of Airtel and double that of RCom.
Reliance Communications is in advanced negotiations with three top US-based telecom tower companies for divesting a strategic 26 per cent equity stake in Reliance Telecom Infrastructure.
IBM chairman, president & chief executive officer Samuel J Palmisano is scheduled to meet Reliance Communications chairman Anil Ambani
Anil Ambani group flagship Reliance Communications on Friday entered the elite club of companies with Rs 1 trillion market value on the back of robust quarterly results, joining the likes of ONGC and Reliance.
Anil Ambani group firm Reliance Communications on Monday said its consolidated net profit rose by 11.91 per cent to Rs 6,044.93 crore (Rs 60.44 billion) for the year ended March 31, 2009, over the same period last year.
Telcos' m-cap rises Rs 11,286 crore; Bharti, RCom lead.
Need for much more investment; sector would like govt help
The junior Ambanis - Anmol and Anshul - were inducted on the board to respect the wishes of the shareholders who during the recent AGM asked the management to get fresh blood into the company by bringing them on board.
Most of the steep rate cuts announced might also not translate into bill savings for subscribers
RIL has signed an infrastructure sharing agreement with Reliance Communications (RCom, of the Dhirubhai Ambani group) to launch its services.
Chiefs of leading telecom firms, including Sunil Mittal of Bharti Airtel, Anil Ambani of RCom and Vittorio Colao of Vodafone, met Telecom Minister Kapil Sibal on Wednesday and placed their views.
The Supreme Court on Monday refrained from passing any order on a PIL filed against Telecom Minister Kapil Sibal accusing him of reducing a penalty amount favouring Anil Ambani-headed Reliance Communications, saying persons aggrieved can avail remedy under the law.
Despite posting a loss, the company has declared a modest dividend.
After initial hiccups, the government on Thursday permitted carriage of video calls on mobile networks subject to an undertaking by operators that they would provide interception capability by July 31 this year.
In the capital goods space, Punj Lloyd and KEC International could be in limelight for the expected turnround
The big beneficiaries of this move will be the big three -- Bharti, Vodafone and Idea.
In an interview at the GSMA conference in Barcelona on Tuesday, Mittal broke his silence on the scam and the very public spat between Tata Teleservices and Reliance Communications: "My plea is that the industry shut their mouths; zip up and let the various investigative agencies do their job," he said.
The government on Friday unveiled long awaited Unified Licence norms that provide for delinking of spectrum from operational permits and allows companies to offer services using any technology.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances