In the debate whether spectrum was over- priced or not, the focus seems to have shifted from Videocon's telecom gamble.
It plans to offer 4G data with voice at rates 15-25 per cent lower than those of its competitors just as it has done with its TV sets. Many say it might be a recipe for disaster.
Consumer electronics major Videocon on Monday said it is in talks with foreign entities for a 26 per cent stake sale in its telecom subsidiary Videocon Telecommunications and that a deal would fructify "very soon".
Company won spectrum in six circles in the 1,800 MHz band for Rs 2,221 cr in Nov; Nokia Siemens is technology partner for the rollout.
To launch 4G long-term evolution services in 1,800 MHz band.
The Delhi circle licence will be available in the efficient 900 MHz spectrum, which is why Videocon is interested.
Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have Bollywood superstar Shah Rukh Khan as the brand ambassador, Venugopal Dhoot's is a story of an aggressive small town businessman's pursuit to be on the top. Now arrested in connection with the ICICI Bank loan fraud case, Venugopal Dhoot during his heydays was not the one to simply sit on small achievements like Videocon becoming the largest television set manufacturer in India.
The telecom tribunal TDSAT on Wednesday asked new operators S Tel and Videocon Teleservices to pay 60 per cent of the penalty within two weeks, imposed on them by the Department of Telecom for failing to meet their roll-out obligations.
Telecom major Bharti Airtel led the growth in segment with net addition of 1.31 million subscribers.
The Supreme Court in February, 2012 had quashed 122 2G licences.
Sensex rises, snapping two-session losing streak; banks, auto gain.
Telecom companies that bought spectrum in the 2G auction of November last year would lose around Rs 4,000 crore
Mobile Telecommunications Company (Zain), the third largest telecom operator in West Asia and a leading operator in Africa, has initiated talks with several Indian telecom service providers to buy stakes.
Etisalat, which is mulling an Indian foray, has since started discussions with several telecom companies including the Videocon Group's Datacom Solutions and Essar-controlled Loop Telecom for equity. Ravi Sharma, CEO of Datacom confirmed that Etilasat was one of the companies to which the company was talking but declined to offer details. Loop Telecom declined to comment.
A slew of real estate companies, like DLF, Omaxe, BPTP and Avnija Properties (Dalmia Cement), and large corporations like telecom bigwig AT&T, Sterlite, Videocon, JSW Power, Hinduja's HTMT, Moser Baer Infrastructure, Ispat Industries Ltd and a Sam Pitroda-owned company are among the 25 companies whose applications will not be immediately processed by the Department of Telecommunications (DoT) for awarding mobile licences.
Official sources said Verizon's license application was under process and "there should be no problem in issuing them letters of intent for national and international long distance (NLD/ILD) business".
If the apex court decides on a 15-year repayment tenure, it would pose a grave challenge for the debt ridden VIL.
The CAG report, tabled in Parliament, states the interest on the short payment stood at Rs 1,052.13 crore for the period up to March 2016.
The Supreme Court on Tuesday granted 10-year time to telecom firms like Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the Adjusted Gross Revenue (AGR)-related dues to the department of telecommunications with certain conditions.
The telephone subscriber base was 996.49 million at the end of March.
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore (Rs 110 billion) received in 2013.
Currently, MNP is only available within a state/circle.
The government will get an additional revenue of 20 per cent from the auction of the 1,800 MHz and 900 MHz bands of spectrum, based on the Telecom Commission's recommendations, compared with those of the Telecom Regulatory Authority of India (Trai).
DoT had raised the demand on December 22 and asked RCom to pay within a month.
The big beneficiaries of this move will be the big three -- Bharti, Vodafone and Idea.
DoT decides not to scrap dual-technology telecom licences
RCom is expected to have a 50% stake, Aircel 40% and MTS 10%
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