Won't put in more money, irrespective of SC decision on curative petition.
Action is hotting up in the telecom space, with Russian giant Sistema in preliminary discussions with Aircel to pick up an equity stake.
The discussions are 'indicative and non-binding' in nature.
Russia will acquire 19.8 per cent stake in Sistema Shyam Teleservices Ltd, a joint venture between Sistema of Russia and Indian entity Shyam Group, for $676 million (around Rs 3,150 crore).
At 6.23 am on 29.1.2025, the 50.9 metre tall and weighing 420.7 ton Geosynchronous Satellite Launch Vehicle-F15 (GSLV-F15) is slated to blast off from the second launch pad carrying the 2,250 kg NVS-02 navigation satellite.
Toughens stand days before cooling-off period ends
Shyam's application comes even as real estate major DLF Ltd confirmed on Wednesday that it will apply for telecom licences by Friday, the fourth real estate company to do so in the recent past.
The auction was shunned by all other companies.
Defence deal, other key trade and investment pacts also likely.
The company hopes to sell devices that keep track of everything from buses, terrorists to loved ones.
Telenor of Norway and Sistema of Russia - on Friday asserted that they would take legal measures.
Sistema Shyam TeleServices Ltd is a venture involving equity participation by Sistema of Russia, the Russian Federation and the Shyam Group of India.
The long-overdue consolidation makes indebted RCom an even more attractive partner for a soon-to-launch upstart led by older brother Mukesh.
The FIPB, headed by Finance Secretary Arvind Mayaram, at its meeting on Tuesday considered 35 proposals.
Commenting on the development, Rajiv Mehrotra, Chairman of Shyam Group, told PTI: "We are delighted that the government has opened up the way for new telecom players to operate telecom services as soon as possible and this is a major step towards offering cost-effective mobile services." Russian conglomerate has already announced up to $5 billion (Rs 20,000 crore) investment in the Indian telecom sector.
The government on Tuesday said it has not received any application for 2G spectrum auction except that of Sistema Shyam Teleservices that will bid for CDMA spectrum.
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 rates will come into effect from May 15 and users will be able to avail these lower rates for a period of one month, SSTL -- a joint venture between Russia-based Sistema and India's Shyam Group -- said.
The telecom industry is moving towards a five-plus one model.
SSTL is the second operator after Vodafone that has approached FIPB for raising FDI limit.
The government has approved 16 foreign direct investment proposals, including that of Russia telecom firm Sistema and Italian fashion retailer Dolce & Gobbana, envisaging a total inflow of Rs 647.48 crore (Rs 6.47 billion).
'The digital trust level has drastically gone up due to Covid, not only in tier-I and II cities, but also in tier-III, IV and V geographies,'
The Department of Telecom has worked out a one-time spectrum charge of over Rs 2,060 crore to be levied from operators for the period they remained in business after their licences were cancelled in February last year, sources said.
Russia's AFK Sistema financial corporation is to invest $1 billion in the Indian cellular telecommunication sector over a period of five years.
The script was triggered by today's kids who seem so comfortable with gadgets and the Internet right from infancy.
RCom and Aircel will hold 50 per cent each in the new company
DoCoMo's exit from Tata Teleservices highlights the struggle of smaller operators even as the outlook improves for bigger players.
The decision is likely to bring in at least Rs 5 lakh crore of fresh investments into the sector over five years by improving connectivity and competition
The shrinkage of MTS operations has helped Tata Tele's wireless net service brand to gain traction.
Russia on Monday made very clear to India its unhappiness over two key bilateral issues-- Kudankulam Nuclear Power Plant 3 and 4 and investments by its telecom company Sistema in the country, saying rules of the game should never be reconsidered till it is over.
The government plans to conduct the next airwave auction in March.
International telcos such as Russia's Sistema and Norway's Telenor and foreign investment funds such as KAIF Investments Mauritius and Capital Global Ltd (investors in Loop Telecom) have sent legal notices to the Indian government under the respective Bilateral Investment Promotion & Protection Agreement or Comprehensive Economic Cooperation Agreement.
SSTL, whose 21 licences are among those cancelled by the Supreme Court in the 2G spectrum case, offers CDMA telephony services under the MTS brand name.
The second round of auction is underway and it is expected that it will end by the third round, which could be the shortest online sale of radiowaves in terms of time consumed.
Sistema Shyam Teleservices on Wednesday said that it has no plans to acquire any telecom service provider and it will wait for the outcome of its curative petition filed before the Supreme Court.
On the back of this, leading GSM incumbent Bharti Airtel's shares opened on a bullish note and then gained further ground and touched an early high of Rs 334.55 on the BSE, higher by 8.96 per cent from its previous closing price.
Russia pressed for "proper treatment" of its companies operating in India, voicing concern over problems faced by its Sistema company which invested about USD three billion in Indian telecom sector but lost its licence under the Supreme Court in the 2G case.
Says action taken following Supreme Court order, not because of government decision
Govt petition separated from others, to be heard in open court on Apr 13
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