In what can be termed as the biggest write-off by an Indian firm, CDMA service provider Tata Teleservices is planning to restructure the company to offset losses of around Rs 5,141 crore (Rs 51.41 billion) by way of capital revamp.
The company is also bringing in a regime of 'getting paid for receiving calls,' while offering local calls at 50 paise per minute.
A slow starter, the telecom company is way behind its peers and needs to scale up fast to become a profitable operation.
The company needs Rs 2,000 crore more in 2 years to repay debt.
Sources in the industry said Tata Teleservices had made an attempt to sale one-third stake to South Korean Telecom. But the deal did not materialise because of differences over valuation.
Tata Teleservices on Wednesday launched its services in Bhopal, Indore, Gwalior, Mandideep and Jabalpur.
The company plans to leverage its tie-up with NTT DoComo to offer many value-added services.
Tata Teleservices plans to invest Rs 3,500 crore (Rs 35 billion) in 2007-08 for expanding its footprint into new territories and launching 3G services.
Tata Teleservices on Wednesday announced outsourcing of its entire IT infrastructure management to group company Tata Consultancy Services, a deal estimated at over Rs 1,000 crore (Rs10 billion) over five years.
The company plans to set up Wi-Fi spots in hotels, retail cafes, airports, stadiums, malls and government and education complexes.
Tata Teleservices Ltd plans to make a total investment of Rs 10,000 crore (Rs 100 billion) over a five-year period ending in 2007, a top executive of the company said on Monday.
Docomo has now moved the London Court of Arbitration.
Market share of Airtel, Vodafone & Idea rises to 70% from 60% in 2010 and 50% in 2008.
The issue will now have to be resolved through arbitration.
Telcos' m-cap rises Rs 11,286 crore; Bharti, RCom lead.
The results of the Maharashtra Board HSC exam will be declared on May 25, 2010 at 11 am. Get your results online, via SMS.
The refusal to auction 2G spectrum ensures that the debate over Trai's recommendations will centre on whether one group was favoured over the other in the past and whether one wrong justifies another.
While smart boys like the Ruias of Essar, Ajay Piramal, Max India promoter Analjit Singh laughed all the way to the bank, the Tatas, Anil Ambani, Malaysian tycoon T Ananda Krishna of Maxis (which invested in Aircel), Sistema, and Norway's Telenor burnt their fingers, notes Surajeet Das Gupta.
Bharat Snachar Nigam is mainly responsible for the increasing congestion between networks of cellular operators on points of interconnection
CAG said that Reliance Infocomm and Tata Tele Services Ltd have caused a loss of Rs 184 crore to 3 state-run insurance firms between 2002-05 on risk cover for mobile handsets and default payments.
TATA Tele services Limited, a leading telecom service provider, said on Wednesday that it would launch its services in over 25 centres in Tamil Nadu soon and cover the entire state.
Tata Group had hinted at combining its enterprise business with Tata Communications and its fixed-line and broadband businesses with Tata Sky.
In the broader market, the BSE Smallcap and BSE Midcap index gained 0.1% and 0.4%, respectively
It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
Active subscriber base declined by 2.2 million on a month-on-month (MoM) basis to 970.2 million in August 2019, on the back of Bharti Airtel and Vodafone Idea losing customers. Jio was the only operator to add 7.2 million active subscribers in the same month.
Call drop problem to improve in 12-16 weeks in Delhi: Vodafone
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