State-owned China Mobile Ltd is exploring a buyout of Hong Kong’s leading telecoms company HKBN Ltd, four people with knowledge of the matter said, which could spark a bidding war for the firm currently valued at...
Uber’s Middle East subsidiary Careem offloads 50.3% stake in super app to Emirates Telecom
A super app managed by Uber Technologies’ Middle East subsidiary Careem has offloaded a 50.3% stake to Emirates Telecommunications Group Company for $400 million, e& said in a filing. The super app will be...
Egypt offers to sell 10% government stake in Telecom Egypt – sources
Egypt is offering to sell a 10% stake in state-controlled Telecom Egypt, sources with knowledge of the offer said on Monday. The sale of state assets would be one of the first to buyers other than Gulf sovereign funds...
Telecom tycoon Sunil Mittal is seeking a stake in Paytm
Indian telecommunications tycoon Sunil Mittal is seeking a stake in Paytm by merging his financial services unit into the fintech giant’s payments bank, according to people with knowledge of the matter. Mittal seeks to...
KKR steps in with bid for Telecom Italia’s grid
Telecom Italia (TIM) has received a non-binding bid for a controlling stake in its fixed-line network from U.S. fund KKR, and Italy’s biggest phone group said its board would meet again later this month to assess...
Demerger of Financial Services Arm of Reliance Industries ahead of Telecommunication & Retail Arm
Over the last decade, Reliance Industries Limited (RIL) has diversified its operations from Oil-to-Chemical to Telecommunications, Retail, and Financial Services. During covid-19 when most businesses were evaluating...
Power Grid to separate telecom business, gets nod to foray into data centre biz
Power Grid Corporation of India Ltd is in the process of carving out its telecom vertical to a new fully-owned subsidiary, Powergrid Teleservices Ltd, in a bid to have a “focused approach” and to move up the...
Bharti Telecom to raise up to ₹6,000 crore debt via NCDs
Bharti Telecom (BTL), a key promoter company of Bharti Airtel, plans to raise up to ₹6,000 crore of debt via non-convertible debentures (NCDs) to buy the balance portion of the 3.33% stake that Singapore...
‘Bharti Telecom will need to raise debt to fund its Airtel stake buy’
Bharti Telecom, a key promoter company of Bharti Airtel, will need to raise debt to fund the purchase of a 3.33% stake in the Indian telecom operator for $1.61 billion (about Rs 12,900 crore) from Singtel, IIFL...
Bharti Telecom acquires 3.33% Airtel stake from Singtel in $1.61 billion deal
Singapore Telecommunications (Singtel) has decided to sell a 3.33% stake in Bharti Airtel to Bharti Telecom (BTL) – the promoter company of Bharti Airtel – for SGD2.25 billion ($1.61 billion approx). Post-the-sale...
Qatar telecoms firm Ooredoo in talks to sell its Myanmar unit – sources
Qatari telecommunications firm Ooredoo is in talks to sell its Myanmar unit in what would mark the exit of the country’s last foreign telecoms operator, two people familiar with the matter told Reuters. The people...
Emirates Telecommunications acquires 9.8% stake in Vodafone
Emirates Telecommunications Group Company PJSC, now known as (e&), said on Saturday it has acquired a 9.8% stake in Vodafone for $4.4 billion. The move came days after e& said it is looking to expand into new...