Reliance Communications, along with Malaysian telecom major Maxis, has confirmed its interest in picking up a stake in Hutchison Essar.
The stock market on Friday greeted with enthusiasm the reports of Reliance Communications planning acquisition of rival Hutch-Essar, as the Anil Ambani group firm gained a massive Rs 4,000 crore (Rs 40 billion) in market value.
The race for acquiring India's third largest mobile services provider Hutch, has hotted up with Reliance Communications backed by an US equity funder
Reliance Communications-owned FLAG system has won a case against Tatas-owned Videsh Sanchar Nigam Limited in the International Court of Arbitration, which makes it eligible for upgrading capacity of international bandwidth.
The Reliance decision was challenged by various GSM-mobile phone firms and there is an attempt to create a split in their ranks -- Maxis Aircel has already withdrawn from the court case, and it is likely another one or two firms will follow as they've been made to believe this improves their chances of getting spectrum.
Anil Ambani-spearheaded Reliance Communications Ltd will on Thursday launch online video streaming on mobile phones, a service that would allow the company to mobile cast events to all its subscribers.
IBM chairman, president & chief executive officer Samuel J Palmisano is scheduled to meet Reliance Communications chairman Anil Ambani
These phones are SIM-enabled, allowing consumers to move from one CDMA service to another, a flexibility hitherto available only on GSM handsets.
Telecom complaints against other players were below 500 in the first half of 2016.
Anil Ambani-controlled Reliance Natural Resources Ltd and Reliance Communication Ventures Ltd on Friday said they have got shareholders'
The minister said the companies have given representation which is being examined by the DoT before taking a final decision.
Telephony major Reliance Communications is believed to have short-listed three global IT companies - IBM, EDS and T-Systems - for its $1.5 billion outsourcing contract.
Taking forward the promised consolidation of its telecom businesses, the board of Anil Ambani-controlled Reliance Communications Ventures Ltd would meet in Mumbai on Sunday to consider merger of Reliance Infocomm with itself.
The Sensex finally ended with a gain of 282 points at 16,846.
Flag Telecom, a 100 per cent subsidiary of Reliance Communication (RComm), has mandated Goldman Sachs and Deutsche Bank as lead managers for the maiden initial public offering (IPO) on the London Stock Exchange.
Thirty stocks from various sectors form the Sensex.
The NSE Nifty ended at 3,643, up 3 points.
Anil Dhirubhai Ambani Group on Wednesday announced the process for listing of the four new companies, which were transferred by Mukesh Ambani group to them on Tuesday, will begin next week.
Investors in Anil Ambani group firm Reliance Communications have reaped a windfall with the company adding over Rs 50,000 crore (Rs 500 billion) in its market cap since its listing on the bourses last year.
Reliance Communications (formerly Reliance Infocomm) Chairman Anil Ambani was on Friday summoned by a city consumer forum to personally appear before it on August 30 in connection with a complaint.
A new round of conflict started on Friday between the Ambani brothers, with the faction led by Mukesh
Anil Ambani's Reliance Power tops the table with 3.46 million shareholders
Walt Disney finds another platform for its cartoons -- your mobile.
FLAG Telecom, the global telecom arm of the Anil Ambani-led Reliance Communications, is believed to have won a $35 million worth international deal for providing international bandwidth to China Netcom.
Based on radio frequency identification technology, the phone will work like a credit or debit card.
Reliance Communications chairman Anil Ambani on Thursday met Finance Minister P Chidambaram and senior DoT officials, even as his company started examining the books of Hutchison Essar Ltd for a possible bid.
Arun Sarin is the chief executive officer of Vodafone Group Plc, the United Kingdom-based global mobile operator.
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