U.S. lock maker Spectrum Brands Holdings Inc said on Wednesday it would sell its hardware and home improvement division to Swedish rival Assa Abloy for $4.3 billion in cash. Shares in Spectrum rose 18% after the company...
Aircel lenders, UVARCL to move Supreme Court as NCLAT bars spectrum sale
Lenders to Aircel and UV Asset Reconstruction, which was to take over the defunct telco’s assets under the insolvency process, are planning to approach the Supreme Court after an appellate tribunal barred sale of its...
NCLAT says lenders cannot treat telcos’ spectrum as ‘security interest’ under insolvency proceedings
The National Company Law Appellate Tribunal (NCLAT) on Tuesday ruled that debt-ridden telecom companies undergoing insolvency proceedings cannot claim rights to their spectrum, which is a natural resource unless...
NCLAT wants three more months to decide whether bankrupt telcos’ spectrum can be sold
An appellate tribunal has asked the telecom department, Aircel and the bankrupt telco’s committee of creditors to approach the Supreme Court and seek a three-month extension to conclude hearings. The apex court had...
Spectrum Brands partners with CVC in bid for Conair – sources
Consumer products company Spectrum Brands Holdings Inc has partnered with private equity firm CVC Capital Partners Ltd in a bid to buy Conair Corporation in a deal which could value the hair-care appliance maker around...
Department of Telecom set to oppose sale of Aircel, RCom spectrum unless AGR dues paid
The central government will oppose transfer of the right to use spectrum of bankrupt telcos undergoing insolvency process such as Aircel and Reliance Communications unless their statutory dues are cleared, officials...
AGR case: Liquidation the only option without spectrum sale, RCom tells SC
Reliance Communications told the Supreme Court on Wednesday that it will be forced to go into liquidation if the spectrum is not allowed to be sold under the insolvency process. Senior advocate Harish Salve, who...
RCom to SC: Will go into liquidation if spectrum not allowed to be sold under IBC
Banks seeking to recover over Rs 40,000 crore in dues from Reliance Communications (RCom) told the Supreme Court that the telco may go into liquidation if the right to use spectrum cannot be transferred through the...
RCom insolvency process to collapse if spectrum is not a part: SBI tells Supreme Court
State Bank of India, representing creditors of Reliance Communications (RCom), has told the Supreme Court that spectrum is an “essential and integral” part of the telco’s assets and the insolvency process would fall...
SC questions spectrum sale by ailing telcos, asks govt how it plans to recover AGR dues
The Supreme Court has questioned the sale of spectrum by bankrupt telcos Reliance Communications and Aircel, and sought to know from the government how it plans to recover Rs 43,000 crore of AGR dues from these...
Strapped govt to fast-track ₹4 Lakh crore of 4G spectrum sale
The government is speeding up plans to auction 4G spectrum worth more than ₹4 lakh crore, said a senior government official. An inter-ministerial note being drafted is likely to be presented to the Cabinet as early as...
Australia’s Ventia to buy Broadspectrum for about $335 million
Infrastructure service provider Ventia said on Monday it will buy Broadspectrum from Spanish infrastructure company Ferrovial SA for A$485 million ($335 million). Ventia, a joint partnership of CIMIC Group and private...