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.
A number of investment banks in their research reports on Wednesday hailed the deal, saying it was strategic in nature for both cash-rich RIL and debt-laden RCOM.
Anil Ambani-led company Reliance Communications appointed JP Morgan as the merchant banker on Monday to look for strategic buyers for its wholly-owned tower subsidiary Reliance Telecom Infrastructure Ltd.
Riding high on a sharp growth in subscriber base, Anil Ambani group's telecom arm RCOM on Thursday reported a 23.9 per cent jump in its first quarter net profit at Rs 1,512 crore (Rs 15.12 billion) and announced plans to invest over Rs 25,000 crore (Rs 250 billion) in the current fiscal.
Tata Teleservices spokesperson confirmed the development, and said: "We have written to theDoT seeking clarity on the issue."
The company has also entered into alliances with laptop manufacturers to bundle Reliance NetConnect Data Cards, its President (Personal Business) S P Shukla told a press conference in Bangalore.
The plan, first initiative by the company to roll out its 3G services, will allow customers access to social networking sites, instant messaging applications, chat services and email accounts like yahoo, gmail and hotmail.
A day before the deadline of exclusive takeover talks between Anil Ambani's Reliance Communications and South African company MTN expires, Reliance Industries has invoked the dispute resolution clause of the non-competition agreement against RCom. However, RCom plans to go ahead with its proposed merger with MTN without taking RIL's claim into account.
Telkom Kenya has a monopoly on landline services in the country. If an Indian company wins the bid, it will enable the company to enter the country's telecom market, according to news reports in international press.
The Anil Dhirubhai Ambani Group company Reliance Communications, which is in the process of bidding for Hutch-Essar, is planning to list its undersea cable business unit Flag Telecom in London to raise over $500 million.
Last month, the ADAG firm announced that it had bought back 250 FCCBs worth $100,000 each, aggregating about Rs 121.22 crore (Rs 1.21 billion). The bonds were bought back at a discount of 52.5 per cent over the issue price. In two tranches, RCom has bought back FCCBs aggregating to about Rs 170 crore (Rs 1.7 billion).
Anil Ambani-led Reliance Communications said on Tuesday the government's move to introduce mobile number portability would help GSM players Aircel, Idea and Spice as they enter new circles. The government had on Monday announced that the mobile number portability, under which users would be able to switch operators while retaining their existing cell phone numbers, would be allowed by next year.
The Delhi high court on Monday sought the Centre and SBI's reply to former RCom chairman Anil Ambani's plea to include the Chinese banks, which have got a decree of $717 million against him from a court in United Kingdom, in the proceedings related to recovery of Rs 1200 crore loan granted to two of his companies. The high court also said that the moratorium on recoveries from sale of Ambani's assets, as provided under section 96 of the Insolvency and Bankruptcy Code (IBC), would remain in operation for now. This direction came on the application moved by the State Bank of India (SBI) seeking a declaration that the moratorium shall continue to be in effect.
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The long-overdue consolidation makes indebted RCom an even more attractive partner for a soon-to-launch upstart led by older brother Mukesh.
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.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
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.
Company targets sale of one million handsets a year.
The government has proposed a penalty of over Rs 41 crore (Rs 410 million) on Tatas, Rs 31 crore (Rs 310 million) on Airtel and Rs 19.65 crore (Rs 196.5 million) on RCom and others, totalling Rs 135.60 crore (Rs 1.35 billion), for not rolling out network on time
Mukesh and Anil will announce two more infrastructure-sharing agreements by mid-June.
State govt aims to make Hyderabad a 4G WiFi-enabled city by December.
For operators, occasions such as Holi, Diwali, Christmas, New Year and Independence Day spell an increase in SMSes and voice traffic and are, hence, treated as 'black out' days where they charge slightly higher SMS rates, irrespective of the tariff plan subscribed.
Leading telecom operators Bharti Airtel and Reliance Communications will start selling Apple's iPhone 5s and iPhone 5c smartphones from November 1.
The company had posted net profit of Rs 156 crore a year ago.
Market worth has risen to half that of Airtel and double that of RCom.
IBM chairman, president & chief executive officer Samuel J Palmisano is scheduled to meet Reliance Communications chairman Anil Ambani
Telcos' m-cap rises Rs 11,286 crore; Bharti, RCom lead.
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.
While the company insisted it had enough spectrum across circles, analysts said the company might soon need to acquire some spectrum to ensure uninterrupted service.
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.
The apex court said Ambani and the others will have to purge contempt by paying Rs 453 crore to Ericsson in four weeks. A bench comprising Justices R F Nariman and Vineet Saran said if the 'contemnors' failed to make the payments within the specified period, they will undergo a jail term of three months.
Despite posting a loss, the company has declared a modest dividend.
Telecom operator Vodafone has been the top gainer of customers through mobile number portability facility while Reliance Communications is the biggest loser.
Finance ministry advises banks to invoke personal guarantees of all promoters whose companies have gone to NCLT for debt resolution.
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.
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 DoT had last week sent a detailed reply to all the issues raised by the CAG.
With the Beijing Olympics 2008 starting from Friday, three of the major Indian telecom service providers Reliance Communications, BPL Mobile and Tata Communications are launching services aimed at tapping the communication potential of the event.
More and more companies are opting for outsourcing data centres. Data centre operators are also called managed service providers (MSPs). These MSPs include Reliance Communications (RCom), Tata Consultancy Services (TCS), Bharti, Netcore, and Ctrl S. The biggest outsourcers are enterprises, banks and financial institutions. IT managers in the Asia-Pacific region rely on outsourcing data centre operations more than their peers.
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