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.
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 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.
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.
Idea may have to shell out Rs 4,500 crore in cash
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.
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.
Even as telecom services are being restored in Kashmir Valley, mobile operators are offering free calling facility in the region.
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.
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
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".
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
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.
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
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.
The big beneficiaries of this move will be the big three -- Bharti, Vodafone and Idea.
In the capital goods space, Punj Lloyd and KEC International could be in limelight for the expected turnround
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.
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.
The government on Tuesday tabled in Parliament the Comptroller and Auditor General of India (CAG) report on 2G spectrum allocation, whose reported extracts have created a political storm and led to the resignation of Telecom Minister A Raja.
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.
The move will help telcos, including Reliance Jio, Vodafone, and Idea Cellular
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