RCom is expected to have a 50% stake, Aircel 40% and MTS 10%
The proposed merger between two state-run telecom giants -- Bharat Sanchar Nigam Limited and Mahanagar Telephone Nigam Limited -- might have hit a roadblock, but both the companies plan to synergise their operations across the country.
"In fact, we are in negotiation with stakeholders including ISL franchisees on the issue," Dhar told reporters at the 11th Convocation of Tata Football Academy (TFA) in Jamshedpur.
Emirates Telecommunications of the United Arab Emirates, better known as Etisalat, is in discussion with Reliance Communications for a possible merger or acquisition.
A source said the competition watchdog would by next month suggest 'structural remedies' that included selling key drug segments as conditions for clearing the country's largest pharmaceutical industry merger.
It also recommended fixing of responsibility on 'agencies and individuals' who took such a 'whimsical' decision and sought 'suitable action' to prevent such 'intangible loss' being caused to a state-run company.
On June 27, the boards of GTL, RCom and its subsidiary Reliance Infratel Ltd had given in-principle approvals to the Rs 50,000-crore ($11 billion) merger deal to create the world's largest independent telecom infrastructure company, neither owned nor controlled by any telecom operator.
Low-cost carrier SpiceJet's share price went up 9.5 per cent at the Bombay Stock Exchange today in an otherwise flat market fuelled by speculation that the airline was in merger talks with another Delhi-based low-cost carrier, IndiGo.
The world's biggest steelmaker Arcelor Mittal said on Friday it has received a writ of summons to appear before a Dutch court for legal proceedings initiated by Arcelor shareholders seeking an injunction against the mega merger of both the companies.
Google Inc is expected to command more than a third of the world's $140 billion digital advertising spending this year
Unlike the new private sector lenders, BoR employees' wages are still governed by the industry wage package negotiated by the Indian Banks Association with bank staff unions.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
The satellite radio bigwigs remain optimistic despite Capitol Hill, FCC, and NAB objections, not to mention swooning stock prices.
Manipal Group chairman Ranjan Pai is in early discussions to invest in Byju's-owned Aakash Educational Services Limited (AESL). According to sources in the know, Byju's founder and chief executive officer Byju Raveendran, who owns a 30 per cent stake in Aakash, is expected to partially offload his holding to Pai for $80-90 million (about Rs 650-740 crore). Raveendran may use the money to repay a large part of the Rs 800 crore loan that Byju's raised from US-based investment firm Davidson Kempner Capital Management in May, after facing a 'technical default', the sources said.
The committee looked into the merger of the two airlines and its impact on the domestic aviation industry.
Targeting a combined revenue of $100 million, Applabs Technologies, eSolutions and VisualSoft Technologies on Friday announced that the three companies plan to merge together.
The name, brand and names of at least three top officials of the new airline, created by the merger of Air India and Indian, would be finalised by June this year.
US-based IT solution provider Ness Technologies on Tuesday announced a merger agreement with Pittsburgh-based software services firm Apar Infotech, which has development centres in Mumbai and Bangalore, in a stock swap valued at $78 million.
Telecom giant Bharti Airtel and South Africa's MTN on Monday said that no decision has been taken by their respective boards to acquire shares or implement the proposed merger between them as the period for exclusive talks has been extended till August 31.
One lesson the government should learn from the Air India-Indian Airlines merger fiasco is that combining two sick people ends up making them sicker.
Speaker Om Birla sought to calm down opposition members, noting that a different system was in place to run the Sansad TV after it was created following the merger of the Lok Sabha TV and the Rajya Sabha TV.
The five-judge constitution bench headed by Chief Justice DY Chandrachud, which heard their contentions at length, told them they will have to justify the procedure adopted for abrogation as the court cannot postulate a situation "where the ends justify the means".
This will be the lender's first result after its merger with HDFC Ltd, effective from July 1, and will keep analysts glued to the management's earnings growth guidance for the merged financial behemoth.
The proposed merger of Air India and Indian would be taken up on a 'fast-track' and a consultant is likely to be appointed soon to prepare a roadmap to decide on the issue, including the public issue, Civil Aviation Minister Praful Patel said.
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
The Indian business process outsourcing and knowledge process outsourcing industry is likely to witness as many as 100 mergers and acquisitions worth $3-5 billion from 2006 to 2010.
Australian Open holder Djokovic will make his ATP Cup debut for Serbia against South Africa in Brisbane on Saturday while Nadal will lead Spain into action against Georgia in Perth on the same day.
Notwithstanding record revenues in certain media sectors like film exhibition in the July-September quarter (second quarter, or Q2), the operational performance of the broadcasting business remained subdued. Zee Entertainment Enterprises and Sun TV are expected to experience a year-on-year (Y-o-Y) decline in advertising (ad) revenues during this period. Conversely, box office (BO) collections are anticipated to exceed Rs 3,000 crore in the quarter, propelled by a series of successful movie releases.
Regulators must learn from past mistakes and act swiftly to prevent Big Tech from monopolising the AI ecosystem, argue Payal Malik and Nikita Jain.
Hind Lever Chemicals Ltd's board will meet on January 24 to consider a proposal for the merger of the company with the Tata Chemicals Ltd.
The change in policy for the three companies, from listing to merger, shows the level of discomfort within the government about their ability to take on the expanded load for insurance coverage with their current financial strength, including the massive premium and claim settlement cover under the proposed universal health coverage plan announced in Budget 2018.
Between March 2022 and September 2023, HDFC Bank added 56,310 employees.
The Supreme Court has asked the Andhra Pradesh High Court to take a decision within two days on a plea challenging merger of Sun Pharmaceutical with Ranbaxy.
'The deal pipeline across products is robust for 2024.'
