Bharti Airtel on Tuesday said that funding the proposed merger with South African telecom major MTN was not a major issue. The last time the company had initiated talks with MTN in 2008, it had received offers from...
Telecom sector leads M&A activity in India
The telecommunication sector has been a significant driver of mergers and acquisitions (M&A) in India accounting for the highest share of deals at 18.6 per cent and 22 per cent during the last two years with values...
RCom gets nod for demerger of optical fibre division
Reliance Communications (RCom) said on Tuesday that it has received shareholders’ approval for the demerger of its optical fibre division and subsequent merger with wholly-owned arm, Reliance Infratel. The...
Russia earmarks over $670 m for 20% stake in Sistema Shyam
The Russian Federation has allocated over $670 million in this year’s budget to pick up around 20 per cent stake in Sistema Shyam Teleservices Ltd, according to the company President and Chief Executive Officer...
Bharti, MTN set to ring new $23-b merger tone
Bharti Airtel Ltd and South Africa’s MTN Group have restarted merger talks to create a $20-billion (in revenue terms) emerging markets telecom entity, a year after previous talks broke down over who would control...
Steer acquires Chinese pipeline firm
Steer, a leading player in polymer processing machinery, has acquired Zheng Feng of China, a single screw pipeline manufacturer, to strengthen its position as a leading extruder designer and manufacturer. This...
Telenor hikes stake in Unitech Wireless to 49%
Norway’s Telenor has raised its stake in Unitech Wireless to 49 per cent from 33.5 per cent, by infusing the second tranche of the funds (Rs 1,130 crore). Telenor had injected the first tranche of Rs 1,250 crore...
Yash Birla forays into IT sector -Acquires 49.59% in Melstar Info.
The Rs 3,000-crore Yash Birla group has ventured into the IT sector by becoming the single largest shareholder in Mumbai-based software services firm Melstar Information Technologies. According to the Bombay...
DoT puts 3G, TCIL stake sale on Cabinet panel’s agenda
The Department of Telecom has listed five issues on the agenda for the new Cabinet Committee on Economic Affairs including finalising the reserve price for 3G auction and sale of stake by Telecommunications Consultant...
Bharti open to acquiring domestic operators
Bharti Airtel on Friday said that it was open to acquiring domestic telecom operators as part of its strategy to add another 100 million subscribers in three years. The company, which today touched the 100-million mark...
Aegis to buy Australia’s UCMS Group for Rs 202 cr
Aegis BPO, the back office arm of the Essar Group, has entered into a definitive agreement to acquire Australian contact centre company UCMS Group for A$54 million (Rs 202 crore). This acquisition would enable Aegis to...
Restructuring in US industries may benefit IT cos here
The ongoing restructuring activities in industries such as financial services or automotives in the US could result in deals for the Indian IT services players in the latter part of the fiscal. “As a result of the...
