Accumulated sum Rs 31,500 crore in 2015-16
Nasdaq-listed wireless and broadband equipment major UTStarcom has announced its agreement with Tata Teleservices for supplying 56,000 lines of AN-200 platform to the largest private basic service operator in India.
The Delhi High Court on Tuesday stayed the state-owned telecom major Bharat Sanchar Nigam Ltd's move to levy Rs 95 lakh as interconnectivity charges on the 'Walky' service provided by private player Tata Indicom.
Tata Teleservices on Thursday offloaded another 8 per cent equity in favour of Sterling Infotech owned by C Sivasankaran, presumably for about Rs 1,200 crore (Rs 12 billion).
In these two cities, TTSL has 5 MHz of spectrum but will surrender only 1.25 MHzy. Company executives say 3.75 MHz in these two high data usage markets will be adequate to ensure services like Tata Photon Max, the bulk of whose revenues come from these two cities, are not impacted.
Tata Teleservices is coming with a walkie-talkie like facility on its mobile phones for which it has tied up with the United States-based CDMA giant Qualcomm for acquiring technology.
Global communications major Motorola said on Wednesday that it has bagged a $43 million contract from basic operator Tata Teleservices for deployment of Code Division Multiple Access network in Maharashtra, Mumbai and Goa.
After a complete wipe-out of net worth, the company is looking for strategies to stay afloat. Either a competitor could take it over or it could merge with others.
The move gains importance after two new telecom players -- Swan and Unitech -- sold stakes to foreign companies at high premiums after the allocation of spectrum. The Left parties had also accused Telecom Minister A Raja of underselling spectrum that cost the national exchequer around Rs 60,000 crore (Rs 600 billion).
Confirming this, Chief Financial Officer S Venkatesan said that the company has passed an enabling resolution to raise around $200 million from foreign investors either through an FCCB or a private placement.
The annual report also mentions Tata Sons is obligated to buy the stake at the higher end of fair value or 50 per cent of the subscription purchase price.
After Vodafone Idea, Tata Teleservices (Maharashtra) on Tuesday said it will opt for conversion of the interest amount on AGR dues into equity and post conversion, the government's holding in the company is expected to be around 9.5 per cent. The announcement of Tata Teleservices (Maharashtra) came within hours of Voda Idea also deciding to opt for converting the interest amount on AGR dues into government equity. In a filing to the BSE, Tata Teleservices (Maharashtra) said Net Present Value or NPV of interest is expected to be nearly Rs 850 crore as per the company's estimates, subject to confirmation by the Department of Telecom (DoT).
In a major telecom deal, Tata Group sold 9.9 per cent equity in its privately held company Tata Teleservices to Singapore telecom giant Temasek Holding, presumably for about Rs 1,500 crore (Rs 15 billion).
The government has sent show-cause notices to 5 telecom firms including Reliance Communications and Tata Teleservices for alleged understatement of revenues of over Rs 10,000 crore.
The Supreme Court on Wednesday reserved its judgement on a petition filed by Tata Teleservices challenging the telecom tribunal's order, which classified the company's fixed wireless phone service 'Walky' as limited mobile. TDSAT had ruled that Walky service offered by Tatas was a mobile service, thus the private company was liable to pay a levy called Access Deficit Charge (ADC) to state-owned BSNL as per the interconnect order of telecom regulator Trai.
In a blow to Tata Teleservices, the Telecom Regulatory Authority of India has asked the company to refund the excess amount charged from customers under its Walky plan.
Mobile operator Tata Teleservices may have to wait to get an STD license from the government, till a clear picture emerges on the foreign CEO issue, expected in October.
The Cellular Operators Association of India has older players like Bharti Airtel, Vodafone and Idea Cellular as its core members. Sanjay Kapoor, CEO of Bharti Airtel, was elected chairman of COAI last week.
Department of Telecom had sought the legal opinion of the matter from the government's counsel.
Sources in the industry said Tata Teleservices had made an attempt to sale one-third stake to South Korean Telecom. But the deal did not materialise because of differences over valuation.
RCom and Aircel have permits for 3G services in 13 out of 22 service areas while Tata Teleservices has permit in 9 circles.
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