Complaint says Singapore Telecommunications sold services illegally in connivance with Bharti and Tata Communications.
Angry Birds will migrate from cellphone screens to the Formula One racetrack this weekend in Singapore, as the firm behind the mobile gaming sensation rolls out a crowd game to be played by live audiences.
Singapore Telecommunications (SingTel) has increased its stake in Bharti Airtel, India's largest mobile service provider, to 32.15 per cent from 32.04 per cent.
Singapore Telecommunications is considering a bid for UK- based telecom Cable & Wireless Worldwide Plc, says a media report.
South East Asia's largest telecoms company SingTel's wholly-owned subsidiary Viridian Ltd purchased 1.58 million shares of Bharti Airtel for an aggregate cash consideration of Rs 42.27 crore or Singapore dollar 12.45 million, the company said in a filing to a Singapore stock exchange.
Indian firms, including Tata Steel, in the past have formed SPVs to acquire foreign companies to protect local operations and also to avoid legal hindrances. The SPV may be registered in a tax-haven country, like Mauritius or Bahamas, the sources said. The move to float an SPV will help Bharti Airtel to continue being listed on Indian stock exchanges, while MTN's promoters will be given a stake in the SPV.
The report quoted SingTel chief executive officer (CEO) Chua Sock Koong as saying that the talks were "at an extremely preliminary, exploratory stage". The company's CEO for international operations, Lim Chuan Poh, was quoted as saying that it was too early to determine if Bharti would make a bid for MTN or whether SingTel would provide financing for the deal. The executives were talking at the company's annual results event in Singapore.
India's largest private telecom company Bharti Airtel is believed to have held discussions to rope in Singapore Telecommunications Ltd, which directly and indirectly holds 30.5 per cent in the company, to bid for South African telecom major MTN Group.
Mobile entertainment developer Indiagames Ltd., has announced its partnership with SingTel (Singapore Telecommunications Ltd) to launch Asia Pacific's first and largest competition for mobile gamers - World Cyber Games (mobile).
While the M1 Group, which holds 9.8 per cent in MTN, today backed Bharti's bid, Singapore Telecommunications said it has no objection to the acquisition.
Singapore Telecommunications, the largest foreign shareholder in Bharti Televentures with 31 per cent stake, on Wednesday said it was open to increase its stake in the company subject to the right price.
Bharti Airtel operates in 20 countries across Asia and Africa and is the world's fourth-biggest cellular carrier by customers
Singapore Telecommunications has stepped up its stake in Bharti Televentures to 30.84 per cent from the current 28.16 per cent.
India's largest cellular services provider Bharti Tele-Ventures Ltd's customer base in Delhi has touched one million, an industry official said on Monday.
India's largest mobile phone company, Bharti Tele-Ventures Ltd, said on Saturday it had bought Swedish firm Telia A.B.'s 26 per cent stake in one of its local subsidiaries for approximately $59 million.
The board of Bharti Airtel approved the rights issue to raise up to Rs 25,000 crore through the issuance of fully paid up shares at a price of Rs 220 per share and to raise an additional Rs 7,000 crore via the foreign currency perpetual bond issue.
Bharti has been expanding its spectrum portfolio and now owns 4G data across all 22 circles in India
The incident, which Australian captain Steve Smith said involved senior players hatching a plan to tamper with the ball during a game against rival South Africa, also threatens to upset current negotiations over broadcast rights.
SBI's Bhattacharya is ranked second on the list, while ICICI's Kochhar is 5th and Axis's Sharma is 19th in the Fortune list
Financials were the top gainers lead by private lenders ICICI Bank and HDFC Bank
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
Sensex witnessed the biggest single day gain since May 2009 in absolute terms.
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